National gas price average tops $4 per gallon – Cobb Courier

Georgia and Cobb County prices remain lower due to tax suspension By Larry Felton Johnson According to the AAA fuel price webpage, the national average for a gallon of regular unleaded gasoline slightly exceeded $4 per gallon this morning. This is more than a $1 rise in prices since last month, before the U.S. and Israel launched attacks on Iran. In response to the attack, Iran closed off the Strait of Hormuz, a narrow choke point into the Persian Gulf, sending oil prices into a continuing steep increase. Oil prices this morning stand at just over $103 per barrel for West Texas Intermediate (WTI) crude, and over $114 for Brent Crude. Brent is the main international benchmark for the oil market The fact that it is running about $10–$12 higher than WTI suggests ongoing global supply stress, since Brent is more directly tied to seaborne oil markets affected by international disruptions like the current war. Georgia gasoline prices are moderated by the suspension of the state’s fuel tax, and stand at an average of $3.625 as of this morning. Cobb County’s average is slightly higher at about $3.65. To read about the effects of Georgia’s fuel tax suspension, both on
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