Posted: Monday, July 28th 2014 at 6:25am
AAA: Gas prices fall to lowest level in four months
TAMPA, Fla. — Gasoline is selling at the lowest price since March amid rising gasoline supplies and falling oil prices, according to the latest fuel price brief from AAA South. The national and Florida average prices for a gallon of regular unleaded gasoline are on a 30-day streak of declines. Prices in Georgia and Tennessee have fallen 34 and 32 consecutive days respectively.
"Oil prices briefly rose following the crash of Malaysian Airliner Flight MH17, but gas prices didn't skip a beat last week," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "Motorists continue to enjoy discounts at the pump and that's likely to continue this week."
The price of oil fell more than a dollar on the NYMEX this week. WTI settled at $102.09 a barrel Friday, $1.04 cheaper than the week prior. Oil is trading lower as gasoline supplies reach a four-month high and outpaces demand.
The national average price for a gallon of gasoline is 6 cents cheaper than last week. The average price also fell 5 cents in Florida, Georgia and Tennessee.
The average price nationally is $3.52 a gallon; Georgia's average price is $3.43 a gallon.
Link: AAA Fuel Gauge Report
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