According to AAA, gas prices in Georgia are declining after oil prices suffered big losses during the week. The report said that the state average price for a gallon of regular unleaded gasoline has dropped over 15 straight days for a total discount of three cents since May 27th.
Georgia’s average gas price was $2.19 on Monday, down by two cents from a week ago and seven cents less than this time last year.
The national average gas price has fallen for nine consecutive days for a total discount of four cents since June 2nd. Monday’s national average was $2.33, five cents less than both last week and this time last year. On Friday, the average dropped below year-ago levels for the first time in 204 days.
Mark Jenkins, spokesman for AAA, states, “Unexpected growth in oil and gasoline supplies sent prices into a downward spiral. Oil prices plunged to lows that should translate to a total discount of 5-10 cents at the pump, but motorists shouldn’t expect that discount to hit overnight. It usually takes a week or two before gas prices fully adjust to major shifts on the crude oil market.”
Summer gas prices in 2017 are anticipated to rival those of 2016. Georgia’s average was $2.11 per gallon from June 1st through August 31st, 2016; the national average was $2.23 during that same time period.
Other state averages are: Alabama -$2.06 , Tennessee – $2.08, Florida -$2.33, and South Carolina – $2.01.