Gas prices are trending lower after refinery issues sent pump prices higher last week. Gas prices in Georgia are 1-cent higher than a week ago. The state average of $2.73 is 11 cents less than this year's high, yet remains 58 cents more than this time last year.

The most expensive gas price averages in Georgia are in Atlanta ($2.78), Athens ($2.74), and Savannah ($2.72)

The least expensive gas price averages in Georgia are in Warner Robins ($2.59), Columbus ($2.61), and Catoosa-Dade-Walker ($2.62)

Early last week, reports surfaced of seven gulf coast refineries dealing with various operational issues.

Some of the issues have already been resolved, while others could take weeks. For instance, the Motiva refinery - the largest in the country - suffered a mechanical outage to one of their catalytic crackers. This is the most important component for converting oil to other fuels. The outage will likely cause reduced output from the plant, and may not be resolved until August.

"Fortunately, fuel prices plunged on the stock market last week, which created adverse pressure to the rising prices caused by refinery issues," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "This sort of volatility at the pump is common during the summer driving season. The three most common reasons for increases during the summer are refinery outages, geopolitical tension, and hurricanes."

Average Summer Gas Prices
 

                  2014    2015    2016    2017    Today
National    $3.57    $2.71    $2.23    $2.31    $2.88
Florida    $3.50    $2.58    $2.19    $2.25    $2.80
Georgia    $3.48    $2.57    $2.11    $2.18    $2.73
Tennessee    $3.35    $2.45    $2.03    $2.08    $2.63

On Wednesday, oil prices plummeted nearly $4 and gasoline futures fell 10 cents. Some of those losses were recovered by Friday with gasoline finishing even with the week before, yet oil remains $2.79 lower. The price for a barrel of WTI settled at $71.01 on the NYMEX; $3.14 less than this year's high, set two weeks before. The slump in futures prices were the result of growing concerns of an international trade war, added strength in the U.S. dollar, lower gasoline demand numbers, and news that Libya would resume oil exports.