Georgia gas prices down another 3 cents; now 18 cents more a gallon vs. a year ago

Media release: Retail gasoline prices remain stable as the price of a barrel of oil neared $100 again after multiple reports were released last week that showed positive acceleration for the U.S. economy. Single-family home purchases rose in November to a seven-month high as U.S. unemployment claims fell by 4,000 to 364,000 last week, reported the U.S. Labor Department.

At the same time, U.S. stockpiles of crude oil decreased by 10.6 million barrels and consumer sentiment rose to 69.9 from 64.1 at the end of November, according to a Thomson Reuters/University of Michigan report. Consumer sentiment rose more than the initial projection of 67.7. Pressure on Iran's nuclear program continues as more countries ban together to stifle the country's nuclear efforts. Crude oil settled Friday at $99.68 a barrel on the New York Mercantile Exchange—$6.15 more than the week prior.

"Although the national average for a gallon of gasoline rose one cent, state prices in the Southeast remain stable with no increase," said Jessica Brady, AAA spokesperson, The Auto Club Group. "However, the rate of decrease at the pump may begin to slow as we approach the New Year and the market rallies as more uplifting economic news is released."

The national average price of regular unleaded gasoline is $3.23 per gallon, 1 cent more than last week. Florida's average price of $3.25 and Tennessee's average price of $3.05 both decreased 1-cent from last week as well. Georgia's average price of 3.11 reflects a 4-cent decrease from last week, respectively.  

CURRENT AND PAST PRICE AVERAGES

Regular Unleaded Gasoline

                                    Current           Week Ago      Month Ago     Year Ago     

National:                   $3.230        $3.228                $3.312            $3.034

Florida:                      $3.250          $3.269                $3.333             $3.057

Georgia:                     $3.118         $3.152               $3.218             $2.943

Tennessee:               $3.056          $3.068             $3.136              $2.897 

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.