AAA: Gas Prices Fall to Lowest Level in Four Months

| July 28, 2014

Gas-Prices-GraphicTAMPA, FL – Gasoline is selling at the lowest price since March amid rising gasoline supplies and falling oil prices. 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.
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.”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 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.

CURRENT AND PAST PRICE AVERAGES

Regular Unleaded Gasoline

Sunday Saturday Week Ago Month Ago Year Ago
National $3.527 $3.533 $3.578 $3.684 $3.639
Florida $3.455 $3.463 $3.506 $3.627 $3.607
Georgia $3.434 $3.441 $3.479 $3.605 $3.511
Tennessee $3.307 $3.314 $3.358 $3.474 $3.426

Source: AAA

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