ATLANTA — Gas prices rose modestly in the last week in Atlanta, amid concerns that a potential military confrontation with Iran could send them soaring.
GasBuddy reported a three-cent increase in the Atlanta area, while AAA reported a four-cent increase statewide in Georgia. In both Atlanta and the state, average prices are now $2.46 per gallon.
Analysts with both organizations cautioned that it's too early to tell exactly how tensions could impact prices.
"With the U.S. targeting and Iranian General in an attack last week, there is a distinct possibility that escalations in tensions may have an affect on gas prices moving forward," Patrick DeHaan, head of petroleum analysis for GasBuddy explained. "For now, there's been no physical disruption or retribution from Iran, but it has been promised. Oil markets have risen on the increasing risk of Iran retaliating, but until it happens, don't expect gas prices to see much of a jump."
DeHaan said he could see a 5-10 cent per gallon increase over the next couple weeks in the absence of a major retaliatory attack by Iran.
"But the real potential for fireworks at the pump will be contingent on retaliation, and whether that retaliation targets oil infrastructure like Iran struck last year," he said. "For now we're in limbo."
Prices in Georgia are about 40 cents higher per gallon than a year ago this time.
"The majority of states saw gas prices increase in the last week - some by as much as a nickel to a dime,” said Montrae Waiters, a spokeswoman for AAA - The Auto Club Group. “Americans are maybe concerned that this is due to the conflict in the Middle East, at this time it is just too early to speculate."
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