U.S. gas prices soar to levels not seen in over a decade, Cobb prices higher than state average
Mar. 10—As gas prices soar all over the country, the average price for a gallon in Cobb on Wednesday was $4.21, 5 cents higher than the statewide average.
According to the website GasBuddy, the average price of gas in Cobb was only 4 cents under the national average Wednesday.
Alexandria Zarate, a scientific journalist in Marietta, drives to relax and free her mind, but may have to do less of that until gas prices begin to descend.
"(The high gas prices) make me want to drive less for sure," she said as she refueled her Nissan Altima at the BP on South Marietta Parkway on Wednesday. "I drive to de-stress, so for me, it's something that I'm willing to spend money on, but I know for the rest of my family members it is an inconvenience because they want to save money."
According to AAA, consumers should expect gas prices to continue rising as long the conflict between Ukraine and Russia causes crude oil prices to climb.
The conflict has contributed to increased gas prices because of the United States' decision to block access to Russian oil, a "very adverse move for the Russian economy," in response to Russia's invasion of Ukraine, according to Roger Tutterow, an economist at Kennesaw State University.
Gas prices were rising even before the Russia-Ukraine crisis, however. Oil supply could not keep up with demand as the U.S. economy recovered from the COVID-19 pandemic, which had kept many motorists indoors and off the roads.
"Gas prices had been rising through much of 2021," Tutterow said. "Basically, as crude oil prices went up, like most global commodities did, you saw gas prices rising."
When it comes to what people can do to manage their spending on gas, Tutterow likens the current situation to 1970s America, when the price of oil rose 300%.
"Be conscious of how much you drive, carpool and things like that," he said. "Those things may help reduce expenditures for some households. At the end of the day, though, there's only a certain amount of adjustment that some people can make, you know. You got to get to work, and you got to get the kids to school."
Some people in Cobb don't have a choice in how much they drive, so they choose to budget and save money in other ways.
"I still drive the same amount, so I just have to budget for it," Paul Whittinghill, a musician at Passion City Church, said. "I'm just figuring it out as I go along because gas just went up so much. I guess we'll see what it does in the next month or so."
He doesn't like where gas prices and the economy are at right now, Whittinghill said, but all anyone can do is deal with it accordingly.
Until the conflict in Ukraine is resolved or until the U.S. gets increased production out of other oil exporters like Saudi Arabia, Tutterow said, the U.S. will continue to see elevated and volatile energy prices.
The national average price of gas in the U.S. Wednesday was the highest it has ever been, as it has risen above 2008's record price of $4.11 per gallon, according to the U.S. Energy Information Administration.
Today, the national average for a gallon of gas was $4.25, 60 cents higher than it was a week ago, 79 cents more than a month ago and $1.46 more than a year ago, according to GasBuddy.
The Los Angeles Times contributed to this report.
