Peach Tree Times

It's been about two months since President Joe Biden launched an emergency oil release, but according to AAA, the nation's average for a gallon of gas hasn't dropped in the last month.

Here in Georgia, the cost of a gallon of unleaded gasoline actually rose more than 40 cents in the last 30 days, AAA reported.

"Gasoline is $1.05 more than it was on Feb. 24, when Russia invaded Ukraine,” Andrew Gross, AAA spokesperson, said on AAA's website. “That sent shock waves through the oil market that have kept oil costs elevated. Domestically, meanwhile, seasonal gas demand is rising as more drivers hit the road, despite the pain they face paying at the pump.”

AAA noted the national average for a gallon of gas, as of May 24, was $4.59. All 50 states' gasoline averages have risen above the $4-a-gallon mark for the first time in the country's history, and also has set daily records since May 10.

Gas prices in Georgia averaged $4.14 on May 24, an average that rose 8 cents in the last week and 43 cents in the last month, according to data from AAA.

It was back on March 31 that Biden announced the release of up to 180 million barrels of crude oil from the nation's Strategic Petroleum Reserve (SPR) over six months, as his way to combat the climbing gas prices. At the time, Biden said there would be a slight delay by days and weeks before price drops were reflected at the pumps.

"It could come down fairly significantly," Biden said during a CNBC Television. "It could come down [to] a better part of anything from 10 cents to 35 cents a gallon. It's unknown at this point."

Two months later, there's still no relief with the price of gas on a seemingly never-ending climb.  The May 24 national average of $4.59 is an 11.7% jump from a month ago when the average cost for a gallon of unleaded gas was $4.12, AAA reported. On March 31, the day Biden announced the oil release, the national average was $4.22, which is still about 38 cents cheaper than the current price. 

According to CNN Business, Biden announced his plans to replenish the SPR supply, starting with the purchase of 60 million barrels of crude oil. An Energy Department official told CNN the purchase would only cover a third of the supply from the president's record release and will take years to deliver. Most notably missing from Biden's announcement are any plans to increase domestic oil production. 

AAA reported that new Energy Information Administration (EIA) data shows domestic gasoline stocks dropped by 4.8 million bbl to 220.million bbl last week. Meanwhile, the demand for gas increased during the same time period. AAA noted that tight supply and increased demand, on top of volatile crude prices, will keep pushing prices up.