Georgia gas prices dip another 3 cents a gallon

Media release: Oil prices made minimal gains last week after reports from the U.S. Labor Department showed September's payrolls increased by 103,000 workers, with an initial growth forecast of 60,000. U.S. oil supplies decreased more than projected last week and fell approximately 4 million barrels. The positive news resulted in crude oil settling Friday at $82.98 a barrel on the New York Mercantile Exchange--$3.78 more than the week prior. 

While economic woes in Europe continue, measures are being made to stimulate growth by making it easier for banks to supply loans. Last week is the first time in a month that positive economic news was released and caused oil prices to increase. 

"Retail gas prices fell for the past month as the price of oil continued to drop. Although oil prices increased last week, consumers will not likely see pump prices rise, but instead remain relatively unchanged from last week's averages," said Jessica Brady, spokesperson, AAA. "The positive economic news released last week will likely serve as a band aid to temporarily ease investor concerns about the economy." 

The national average price of regular unleaded gasoline is $3.39 per gallon, 3 cents less than last week. Florida's average price of $3.35 fell 4 cents last week, while Georgia's average price of $3.24 decreased 3 cents. And, Tennessee's average price of $3.20 dropped 2 cents from last week, respectively.  

CURRENT AND PAST PRICE AVERAGES

Regular Unleaded Gasoline

                                    Current           Week Ago      Month Ago     Year Ago    

National:                   $3.396         $3.424                 $3.659            $2.792

Florida:                      $3.354          $3.397                  $3.608             $2.780

 Georgia:                     $3.246          $3.273               $3.564             $2.683

Tennessee:               $3.203          $3.225              $3.473              $2.665

AAA's Daily Fuel Gauge Report (fuelgaugereport.com) is updated each day and is the most comprehensive; reflecting actual prices from credit card transactions within the past 24 hours at two-thirds (100,000 stations) of the gasoline stations in the U.S. Its accuracy is unparalleled.