GASOLINE PRICES DECLINE AS CRUDE OIL SLIPS TO $76.35 PER BARREL

With crude oil slipping to the lowest level on the New York Mercantile Exchange (NYMEX) since Oct. 15, and oil refineries operating at historically low levels, the price of gasoline is in retreat.

According to Retail Fuel Watch, the latest inventory data from the Dept. of Energy shows higher gasoline, crude oil and diesel fuel stocks but not much demand for any of these products. 

The national average price of unleaded regular gasoline declined by 3 cents per gallon in the past week to $2.63 and the average prices of gasoline in Florida, Georgia and Tennessee each shaved three cents per gallon to $2.68, $2.50 and $2.49 respectively.

“Looking ahead, it does not appear that there’s any momentum to support crude oil at $80 per barrel or above,” said Gregg Laskoski, managing director of public relations, AAA Auto Club South.  “Barring any unforeseen events, at this time of year we should not be surprised to see fuel prices move lower.” 

CURRENT AND PAST PRICE AVERAGES

Regular Unleaded Gasoline

                                     Nov. 15          Week Ago      Month Ago     Year Ago

National:                    $2.635            $2.669             $2.501               $2.125

Florida:                      $2.687            $2.711             $2.476              $2.159

Georgia:                     $2.506            $2.535             $2.335             $1.998

Tennessee:                 $2.496            $2.524             $2.324              $1.973

 AAA’s Daily Fuel Gauge Report (fuelgaugereport.com) is updated each day and is the most comprehensive; reflecting actual prices from credit card transactions within the past 24 hours at two-thirds (100,000 stations) of the gasoline stations in the U.S. Its accuracy is unparalleled.

 Visit the Press Gazette website to see which store has the lowest gas prices in the area at www.srpressgazette.com