ATLANTA — As tensions escalate in the Middle East, U.S. oil prices have surged more than 2 percent, hitting their highest level since January. However, analysts say the jump has not triggered panic buying at the pump, meaning a major spike in gas prices is unlikely for now.

In Georgia, though, prices are already on the rise. According to AAA, the state’s average gas price increased by nine cents over the past week to $2.96 per gallon. Metro Atlanta drivers are paying slightly more at $2.97, but that’s still about 25 cents cheaper than the national average.

“We’re not seeing the kind of situation that causes panic buying,” said oil analyst Phil Flynn. “So I think from that viewpoint, the increase is not going to be welcomed but it’s going to be modest.”

Despite the recent uptick, Georgians are still paying around 30 cents less per gallon than this time last year.