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IST: Gas price hike on horizon
 
(Source: The Brunswick News)By Shanessa Fakour, The Brunswick News, Ga.
Apr. 6--Motorists in Brunswick and the Golden Isles will pay more for gasoline this summer than they did in 2009, experts predict.

While prices will rise, there will be some good news to come of it. It will be the first sign of a growing economy, economists say.

Last week's jobs report by the U.S. Bureau of Labor Statistics sparked confidence in investors, who anticipate that an improving economy will translate into an increased demand for fuel.

Gas prices are already climbing in Glynn County, reaching $2.77 per gallon or more over the Easter weekend

The national and state average prices for retail gas rose two cents from the previous week, to $2.82 nationally and $2.72 in Georgia. The increase followed a jump in crude oil prices to more than $84 on the New York Mercantile Exchange.

"Consumers can expect gas prices to continue to increase throughout the summertime," said Jessica Brady, spokesperson for the AAA Auto Club South. "It will probably be July before they start to back down."

Brady said fuel costs are expected to peak above $3 during the summer, perhaps reaching $3.15 before dropping.

She said gasoline prices usually peak in the summer because demand is higher due to holidays and vacations for families.

While the rise in summer gasoline prices, often attributed to the more costly summer blend of gasoline to reduce pollutants, is as inevitable as the blossoming of azaleas, some motorists in Brunswick say it is too soon to start jacking up gasoline prices.

Elliot Davis, an employee at the Federal Law Enforcement Training Center, wants to see gas prices go down before they go up.

"With the earthquakes, people losing their jobs, I feel gas prices should be going down," Davis said while pumping gas at a Citgo station on Community Road.

He said the economy needs to show more improvement before prices climb to $3.

Antonio Vail Sr., a Brunswick barber, is convinced of that, too. He said now is not the time to start raising gas prices.

"A lot of people are closing their businesses," Vail said. "People are still looking for work and being laid off."

Summer is also the peak month for visitors to the Golden Isles.

Ascending fuel prices will have some impact on the way tourists spend money, but not on their travel plans, said Bill Tipton, executive director for the Brunswick-Golden Isles Convention and Visitors Bureau. "We won't see a drop in the number of folks, but we will see probably a drop in what they're spending while they're here," Tipton said.

He said statistics show that people still will make day trips because they think they deserve a vacation.

--To locate gasoline prices, go to TheBrunswickNews.com and click the Gas Buddy icon

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Source