Posted: Monday, August 11th 2014 at 4:47am
AAA: Gas prices decline as oil stabilizes
TAMPA, Fla. — Gas prices have fallen more than 40 consecutive days in the southeastern United States. Since late June, the average price for a gallon of regular unleaded dropped 26 cents in Florida, 25 cents in Georgia, and 24 cents in Tennessee.
"Prices are falling at about a half cent a day and aren't showing signs of slowing down," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "It's unusual to see prices steadily decline in the late summer months, but increases in domestic oil supply are helping to offset fluctuations in demand during the busy summer travel season."
The price of oil made minimal declines Friday, falling only 23 cents last week, compared to the $4.21 discount the week before. The price for a barrel of WTI settled at $97.65 on the NYMEX.
In Georgia, the average price for a gallon of regular unleaded gasoline on Sunday was $3.35, a drop in four cents from a week ago and 19 cents lower than a month ago.
The national average price, according to AAA was $3.47 a gallon.
Link: AAA Fuel Gauge Report
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