GA Gas Gauge: Prices Keep Falling As Oil Gets Cheaper

Gas prices continued to fall last week in Georgia as the price of oil reached its lowest point in six years.

The average price of a gallon of regular unleaded gasoline in the state was $2.43 as of Sunday, 2 cents down from a week ago, the AAA said in its weekly fuel price briefing.

“There continues to be a surplus amount of oil in the global market which is expected to keep prices of both oil and gasoline on the low end through the rest of this year,” AAA spokesman Mark Jenkins said in the briefing. “Gas prices did not fall as fast last week as they have in recent weeks, but that is to be expected because we are still in the middle of the peak driving season. Gas prices should fall even faster in the fall when school is back in session.”

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As of Sunday, the average gas price in Georgia was down 20 cents over the past month and 88 cents cheaper than a year ago. The national average as of Sunday was $2.67, according to the AAA data.

Last week, the AAA said the price of oil reached its lowest closing price since March 3, 2009. On that day, the price of oil was $41.65 per barrel, and gasoline averaged $1.98 in Florida, $1.84 in Georgia and $1.81 in Tennessee. In September 2008, the price of oil set a record high of $120.92 a barrel, then plummeted to $33.87 after only three months. During that time, the national average price for gasoline fell from $3.74 to $1.67, according to the AAA.

“This just proves how big of an impact oil can have on the price of gasoline. Though it is unclear just how low gas prices could go, history tells us that gas prices have the potential to drop below $2 a gallon when oil is as inexpensive as it currently is,” Jenkins said.

The lowest price reported Monday in Dacula on AtlantaGasPrice.com was $2.39.

You also can use our Mapquest gas tool below to find the best prices in town.

Note: The map below uses the location tied to your internet service provider. If the map is not local, type your ZIP code or town and state in the search box and press return.