Georgia gas prices dip another six cents to $3.39 per gallon; down 45 cents from a year ago

 

Media release: Oil and gas prices fell again as more pessimistic news about the economy was released last week. Fuel prices decreased further after the Commerce Department reported retail sales dropped in March and a report showed consumer sentiment is at a nine-month low.

Fuel demand has lagged since the start of the year, causing both OPEC and the Energy Information Administration to cut their global oil demand outlook for the year. This comes at a time when U.S. oil output is at a 20-year high and supplies are plentiful.

"Oil and gas prices will likely continue on this downward trend until stronger economic figures are reported," said Jessica Brady, AAA spokeswoman, The Auto Club Group. "Although the economic news is less than great, motorists will welcome the falling gas prices as the summer driving season begins."

A barrel of oil closed Friday at $91.61 on the New York Mercantile Exchange — $1.09 less than the week prior.

The national average price of regular unleaded gasoline is $3.53, 7 cent less than last week. Florida's average of $3.53 and Georgia's average of $3.40 both fell 6 cents from last week. Tennessee's average of $3.33 decreased 9 cents. Visit AAA's Daily Fuel Gauge Report to find national, state, and local metro market retail gasoline prices. 

CURRENT AND PAST PRICE AVERAGES

Regular Unleaded Gasoline

                                Current                  Week Ago             Month Ago           Year Ago

National:                                 $3.532                         $3.601             $3.695                 $3.904

Florida:                                    $3.530                         $3.592             $3.746                 $3.946

Georgia:                                   $3.395                         $3.461           $3.603                 $3.837

Tennessee:                              $3.330                       $3.389             $3.510                 $3.778