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AAA reports Gas Prices back on the Decline

 

AAATampa, FL – Gas prices are declining again, falling 6 cents nationwide in the past week. Regional prices are also down 2 cents in Florida, 4 cents in Georgia, and 3 cents in Tennessee.

“Average prices rose about a nickel in the past couple weeks due to rising oil prices and elevated demand at the same time that refineries were conducting seasonal maintenance,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “More and more refineries are returning to full capacity, which will beef up supplies, helping to push gas prices lower in the coming weeks.”

2015 National Average Gas Prices - October

The price of oil settled at $47.26 a barrel on the NYMEX last Friday – 88 cents higher than Thursday, but $2.37 lower than the closing price a week before.

The weekly average price of oil was selling for $45.00 a barrel for about four weeks before jumping to $48.33 a week ago, but falling back to $46.81 during the past week.

The price of oil could fall lower before the end of the year. So far this year, the average price for a barrel of oil has averaged $50.78. The U.S. Energy Information Administration forecasts oil will average $49.53 this year, and climb to $53.57 next year, signaling that these low gasoline prices shouldn’t be going anywhere anytime soon.

Daily Oil Prices - October 2015“Before the end of the year, drivers could still see the national average fall below $2.00 per gallon for the first time since 2009, assuming crude oil prices do not increase and there are not unexpected disruptions to supply,” Jenkins said.

Current and Past Price Averages

Regular Unleaded Gasoline

Sunday Saturday Week Ago Month Ago Year Ago
National $2.262 $2.270 $2.317 $2.301 $3.125
Florida $2.184 $2.191 $2.220 $2.160 $3.159
Georgia $2.122 $2.130 $2.161 $2.144 $3.064
Tennessee $1.997 $2.002 $2.026 $2.009 $2.904
Click here to view current gasoline price averages

 

AAA updates fuel price averages daily at www.fuelgaugereport.aaa.com

Every day up to 120,000 stations are surveyed based on credit card swipes and direct feeds in cooperation with the Oil Price Information Service (OPIS) and Wright Express for unmatched statistical reliability. All average retail prices in this report are for a gallon of regular, unleaded gasoline.

About The Auto Club Group

The Auto Club Group (ACG) is the second largest AAA club in North America.  ACG and its affiliates provide membership, travel, insurance and financial services offerings to over 9 million members across eleven states and two U.S. territories including Florida, Georgia, Iowa, Michigan, Nebraska, North Dakota, Tennessee, Wisconsin, Puerto Rico and the U.S. Virgin Islands; most of Illinois and Minnesota; and a portion of Indiana.

ACG belongs to the national AAA federation with more than 55 million members in the United States and Canada and whose mission includes protecting and advancing freedom of mobility and improving traffic safety.


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