Global Fuel Price Surges
Rising Crude Oil Prices Drive Up Fuel Costs Across US, Canada and UK
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Key Points
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Georgia’s average regular-gas price is up 13 cents from a week ago, while Augusta has seen a 23-cent increase; the state average remains about 30 cents below the national average.
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Georgia residents told NewsChannel 6 that fuel costs are forcing them to reduce grocery spending, including fresh produce and restaurant meals, while some boat owners are avoiding recreational trips because filling up has become unaffordable.
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Texas could record its most expensive September statewide gas-price average if crude and pump prices do not decline soon, even though current prices remain below the state’s all-time high of $4.69 per gallon set in June 2022.
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AAA Texas spokesperson Daniel Armbruster said the current price movement is unusual because fuel prices typically decline after the summer travel season, but crude oil near $100 per barrel is pushing prices higher instead.
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Toronto-area gasoline prices vary widely by station, ranging from nearly C$1.70 to the low C$1.80s, while average premium gasoline is already above C$2 per litre.
Fuel prices are surging across North America and the UK, driven by crude oil trading above $100 per barrel amid Middle East conflict and Strait of Hormuz disruptions. NewsChannel 6 reports Georgia's average regular gasoline has reached $4.08 per gallon—up 13 cents in a week—while the US national diesel price hit a record $6.40 per gallon. In Canada, Toronto-area gasoline ranges from C$1.70 to C$1.80+ per litre, with premium exceeding C$2.00/litre, and Montreal diesel has surpassed C$3.00 per litre at some stations. The UK faces even steeper costs, with petrol averaging 170.54 pence per litre and diesel at 192.86 pence—pushing a typical family car fill-up to nearly £100.
The price spike is forcing consumers to cut spending on groceries and travel. RAC data shows UK drivers are paying almost £5 more to fill a car than in early September, while motoring groups urge governments to freeze fuel duty and provide relief. AAA Texas spokesman Daniel Armbruster noted the current surge is unusual because prices typically fall after summer travel season—but crude near $100 per barrel is overriding seasonal trends.
Why Crude Oil Is Stuck Above $100 Per Barrel
Geopolitical tensions in the Persian Gulf are restricting global oil supply. The Strait of Hormuz, a critical chokepoint accounting for over 20% of world petroleum traffic, faces severe transit disruptions. Reuters reported that Iran's military strikes on tankers and damage to Saudi Arabia's 745-mile East-West pipeline have disrupted flows, forcing Brent crude between $103 and $107.63 per barrel throughout mid-September. IEA analysts warn that depleting commercial inventory buffers mean markets need higher prices to balance supply and demand.
US Motorists Face Record Diesel and Rising Gasoline
National diesel prices have reached an all-time high of $6.40 per gallon, according to GasBuddy, while regular gasoline averages $4.44 per gallon nationally. CBS17 reports that North Carolina gas prices have risen nearly 50 cents per gallon over four weeks, with diesel jumping 90 cents. Georgia saw even sharper weekly jumps: Augusta's average climbed 23 cents in just seven days. Texas could post its costliest September average if crude does not decline, though current prices remain 25 cents below the state's June 2022 record of $4.69 per gallon.
Rising fuel costs are reshaping consumer behavior. NewsChannel 6 spoke with Georgia residents who are cutting grocery spending—including fresh produce and restaurant meals—to offset fuel expenses. Recreational boat owners are canceling trips because filling up has become unaffordable. The squeeze is spreading across supply chains, with record diesel pushing trucking and logistics costs higher and threatening to accelerate retail inflation.
Canada Braces for Winter Fuel Blend Volatility
Greater Toronto Area gasoline prices vary sharply by station, ranging from nearly C$1.70 to the low C$1.80s per litre, while premium gasoline already exceeds C$2.00 per litre. Montreal diesel has surpassed C$3.00 per litre at some pumps. Markets are shifting to winter-blend fuel in late September, which is expected to temporarily boost prices six cents per litre before dropping about 12 cents on Friday as seasonal adjustments take effect. However, underlying crude costs mean any relief will be temporary.
UK Households Pay War Premium as Government Faces Pressure
RAC data shows UK petrol at 170.54 pence per litre and diesel at 192.86 pence—the highest levels since August and July 2022 respectively. A typical family car fill-up now costs nearly £100, with drivers paying almost £5 more than in early September. RAC Foundation director Steve Gooding stated that over six months of Gulf conflict, "drivers have paid billions of pounds in 'war premiums'... The Government can't end the war, but it can recognise the financial hit." Motoring groups are urging the Chancellor to freeze planned fuel-duty increases and provide support as consumers cut spending and delay travel.
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