Gas prices in Georgia declined three cents last week, according to AAA, The Auto Club Group, which additionally reports that the state average of $2.79 a gallon is the lowest daily price in 20 days.
Since peaking at $2.84 on May 27th, gas prices have declined 14 consecutive days for a total of six cents. In spite of the discount, motorists are still paying 59 cents per gallon more than this time last year.
AAA Spokesman Mark Jenkins attests, “Gas prices could drop another five cents this week, unless the market suddenly shifts course. Prices at the pump are still adjusting to the recent drop in oil and wholesale gasoline, due to the potential of increased crude output from OPEC. However, there is still volatility in the market, and pump prices could move higher if OPEC decides against easing production cuts at a meeting later this month.”
US crude prices settled at $65.74 per barrel on Friday to mark a seven-cent decline from the week before and $6.50 less than this year’s high.
Trackback from your site.