Georgia Gas Prices Down Slightly Over Past Week

Staff Report From Georgia CEO

Monday, April 11th, 2016

The low price of oil has given way to declines in prices at the pump. The average price of gasoline fell for the tenth consecutive day Sunday, in Florida, Georgia, and Tennessee. State averages are 2-3 cents lower than a week ago.

"Motorists filling their gas tanks got a brief reprieve from rising prices, thanks to a dip in oil prices early last week," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "But oil finished the week $4 higher than it started, which could cause pump prices to climb again in the near future."

Crude oil prices continue to swing on expectations of supply and demand, and prices closed out the week responding to ongoing conversations about potential production cuts and freezes, and forecasts of demand growth. Attention is also focused on the health of the U.S. economy and reports from the Federal Reserve about the federal interest rate and any impacts on the U.S. dollar. A weaker U.S. dollar makes oil less expensive for countries holding other currencies, which can put upward pressure on crude oil prices due to increased demand.

Daily settlements of WTI started at $35.70 per barrel on Monday and finished the week at $39.72 on Friday. The average price for a barrel of oil was $37.26, almost a dollar lower than the week before.

 

CURRENT AND PAST PRICE AVERAGES 

Regular Unleaded Gasoline 

Sunday Saturday Week Ago Month Ago One Year Ago Two Years Ago
National $2.043 $2.042 $2.057 $1.844 $2.398 $3.612
Florida $2.047 $2.048 $2.068 $1.856 $2.473 $3.693
Georgia $2.003 $2.006 $2.034 $1.774 $2.247 $3.554
Tennessee $1.859 $1.861 $1.890 $1.652 $2.137 $3.449
 
Click here to view current gasoline price averages