Gas Across GA Down 4 Cents Since Last Weekend

| July 29, 2013

gas-prices-7-22Valdosta, GA- Gas price averages dipped slightly from last week across the Southeast, but that doesn’t mean the downward trend will continue. Oil and gas prices are expected to remain volatile in the weeks to come, especially as peak hurricane season approaches.

The same factors—tensions in Egypt, supply drops, and inclement weather—continue to place upward pressure on oil prices. However, it was China’s recent cut in excess manufacturing that caused crude prices to drop slightly from last week, creating concerns of slowed economic growth and reduced fuel demand in the country. This factor alone isn’t enough to cause oil prices to drop sharply to the point that motorists will see a significant difference in pump prices.

“Although gas prices in the Southeast fell a bit, I wouldn’t get too excited. There is still a strong likelihood pump prices will steadily increase over the next few weeks, even if there are slight price dips from time to time,” said Jessica Brady, AAA spokeswoman, The Auto Club Group.

The cost for a barrel of oil closed last Friday at $104.70 on the NYMEX — $3.35 less than the week prior.

The national average price of regular unleaded gasoline is $3.63, 4 cents less than last week. Florida’s average of $3.60 dropped 2 cents and Georgia’s average of $3.50 decreased 4 cents from last week.

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