Another 6-cent drop in Georgia gas prices; still 28 cents more a gallon than a year ago

Prices at the pump continue to fall as motorists near the year-end travel holiday of December 23 through January 2. The current national average price for a gallon of gas is $3.22, approximately 6 percent more than the average of last year's travel period of $3.04 and 5 cents less than last week's average of $3.27. The downward trend of retail gasoline prices is expected to continue into the New Year as oil prices drop back below $95 a barrel. Crude oil settled Friday at $93.53 a barrel on the New York Mercantile Exchange—$5.88 less than the week prior.
 
Europe's lingering debt issues and somber economic outlook continue to put downward pressure on oil prices. The dollar gained momentum after the value of the euro fell curbing the appeal of oil as a commodity. Oil prices also dropped after OPEC agreed to increase output quotas to 30 million barrels a day to meet future expected growth numbers.
 
"Retail gas prices are forecast to decrease further as we near the year-end holiday travel period—a welcomed gift to motorists," said Jessica Brady, AAA spokesperson, The Auto Club Group. "Although gas prices are almost 20 cents more than they were last year, they are substantially less than this year's peak price of $3.98 a gallon."

The national average price of regular unleaded gasoline is $3.22 per gallon, 5 cents less than last week. Florida's average price of $3.26 and Tennessee's average price of $3.06 are both 4 cents less than last week. Georgia's average price of 3.15 reflects a 6-cent decrease from last week, respectively.  

CURRENT AND PAST PRICE AVERAGES

Regular Unleaded Gasoline

                                    Current           Week Ago      Month Ago     Year Ago     

National:                   $3.228        $3.279                $3.384            $2.982

  Florida:                      $3.269          $3.303                $3.388             $2.993

  Georgia:                     $3.152          $3.213               $3.3713             $2.876

Tennessee:               $3.068          $3.103             $3.213              $2.832

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.