Lower Gas Prices Give Back to Consumers

| November 11, 2014

Gas-Prices-Graphic

VALDOSTA — As gas prices in Georgia and nationally continue to drop, consumers should be able to enjoy more money in their pockets just as the holiday season approaches.

Motorists saw prices continue to plunge at the pump with the national average price for gasoline falling for the 42nd consecutive day on Sunday.  Meanwhile, the streak of declines is 37 days in Florida, 38 in Georgia, and 39 in Tennessee.

“Cheap gas prices couldn’t come at a better time as millions of Americans make travel plans for the holiday season,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “Prices are the lowest in four years, which should influence more people to take a trip, drive farther, or drive instead of fly.”

The average price is below $3 a gallon in 26 states including Florida, Georgia and Tennessee. South Carolina has the cheapest average price in the country at $2.68. Tennessee has the 2nd cheapest average at $2.70. Georgia and Florida have the 13th and 20th cheapest average prices at $2.84 and $2.81 respectively.

The U.S. shale boom continues to have a major impact on the market. Domestic oil production is the highest on record, which dates back to 1983. West Texas Intermediate oil, the U.S benchmark, fell below $79 for the first time since June 2012. The price for a barrel settled at $78.65 on Friday, a $1.89 decline from last week.

The national average price for a gallon of regular unleaded gasoline is $2.93, a 6 cent decline from last week. Since last week, the Florida average of $2.91 fell 5 cents, the Georgia average of $2.84 slipped 3 cents, and Tennessee’s average price of $2.70 fell 4 cents.

Business School | Have a Strategy for Impromptu Speaking
Business School | Microsoft Office Offers Free Content Creation And Editing For iOS And Android Apps
×

3 Comments on "Lower Gas Prices Give Back to Consumers"

Trackback | Comments RSS Feed

  1. HA!!!! says:

    Are you kidding me… prices locally have risen $.15 in the last few day as oil has dropped… everytime there’s a article about gas going down the prices rises within days!!!

  2. It Figures! says:

    Just as predicted, as soon as the elections are over… well, here we go above $4 soon.

  3. Papi says:

    Democrats thought they would win the election by lowering a few pennies of gasoline before election. Now, we the consumer need to tighten our belts because prices are on the way up. As far as AAA they are just a enabling false propaganda entity for the Odumbo regime just like AARP!!!