their supplies remain low Tudor said. Still Newton County is better off than many other parts of Metro Atlanta when it comes to gas supplies he said.
Regular unleaded was retailing anywhere from $3.95 to $4.19 at eight Newton County gas stations on Tuesday, according to GasBuddy.com.
The average price of unleaded in Metro Atlanta on Tuesday was $4.01, down from $4.02 on Monday but up from $3.59 a month ago, according to AAA. The national average is currently $3.72.
Gas prices can be expected to rise quickly in the next couple of days following the largest single day spike in oil prices, where price per barrel increased by $20, Monday. The jump is attributed to investors’ fears that the anticipated $700 billion federal bailout of the financial sector will cause inflation.
At the BP gas station on Pace Street, all gasoline was sold out except for the premium grade which was retailing at $4.28.
BP station manager Sam Jiwani said the station was completely out of gas from Sep. 13 to 15. On Thursday they received some regular unleaded only to completely sell out of it by Saturday.
“We don’t know when we will get unleaded,” Jiwani said, adding he hoped to receive more later in the week.
Tudor said unleaded is typically the first grade to sell out during gasoline shortages.
Mike Thornbrugh, manager of public and government affairs of QuikTrip, said of the company’s 111 gas stations in Metro Atlanta, between 40 and 50 of them are currently out of gasoline.
He said he did not have a timetable for when all of the QuikTrip stations would be selling gas again though he hopes things will be normal again by next week.
“Obviously with all of the refinery problems down the pipelines, then just the huge surge of people buying gasoline, the system is just strained beyond belief,” he said.
Analysts say the gasoline shortages across the Southeast should disappear in the next week, once Gulf Coast refineries resume normal production levels. For now, the major pipelines delivering fuel to many parts of the eastern United States are ready for shipments — the supplies just aren't available.
"I think it's a temporary situation, but consumers shouldn't be shocked if stations in their area run out of product," said Ben Brockwell, director of data, pricing and information services for the Oil Price Information Service in Wall, N.J. "The supply system was critically disrupted, and you can't shut something down and expect it to get started back smoothly without there being some aftershocks."
Exxon Mobil Corp. said Monday its refinery in Baytown, east of Houston, was producing gasoline at reduced levels as units regained power. The Baytown refinery is the nation's largest.