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State gas prices fall 1.5 cents per gallon

Special to SEGAZINE

Average retail gasoline prices in Georgia have fallen 1.5 cents per gallon in the past week, averaging $3.32/g yesterday, according to GasBuddy’s daily survey of 5,883 gas outlets in Georgia. This compares with the national average that has fallen 0.5 cents per gallon in the last week to $3.49/g, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Georgia during the past week, prices yesterday were 11.4 cents per gallon higher than the same day one year ago and are 12.5 cents per gallon lower than a month ago. The national average has decreased 14.4 cents per gallon during the last month and stands 7.8 cents per gallon higher than this day one year ago.

“After blaming higher gasoline prices on refineries for much of the early spring and summer, it now seems that higher oil prices may be to blame for an expected up tick in the national average,” said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. “Oil prices have silently been tracking higher after tension in Egypt started to impact the market, driving oil prices higher. In turn, gasoline prices have begun to stage a rally as well. Oil closed last week at its highest level in over a year, and it may lead to a gentler rally in retail gas price than what we saw earlier this year, but a rally none the less,” DeHaan said.

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