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AAA reports Gas Prices on 2-Week Skid

 

AAATampa, FL – Gas prices have inched lower for nearly two consecutive weeks. The average price for a gallon of regular unleaded has declined for 17 consecutive days in Florida, and 12 days straight in Georgia and Tennessee. During these streaks, average prices have dropped 6 cents in Florida, 4 cents in Georgia and 3 cents in Tennessee. 

“Gas prices are taking their seasonal downward turn,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “Falling demand leads to oil and gasoline supply builds, which has pushed fuel prices lower. Gas prices should trend lower to finish the month, but begin a seasonal rise in February due to refinery maintenance season.”

Gas Prices has been slowly dropping now for nearly two weeks.

Gas Prices has been slowly dropping now for nearly two weeks.

The crude oil market opened Friday with solid gains ahead of a meeting on January 22nd with OPEC and non-OPEC members.

The purpose of the upcoming meeting in Vienna, Austria is to develop a mechanism to measure and ensure compliance with their production cut agreement.

Regardless of the outcome of the OPEC meeting, increased U.S. crude oil inventories and rising shale production could negatively impact the global oil rebalancing effort. Traders will continue to keep an eye on the outcome of the OPEC meeting and impacts increased U.S. oil production has on the markets.

At the closing of Friday‚Äôs formal trading session on the NYMEX, WTI was up $1.05 to settle at $52.42per barrel.  

Current and Past Price Averages

Regular Unleaded Gasoline

Sunday Saturday Week Ago Month Ago One Year Ago
National $2.313 $2.319 $2.344 $2.260 $1.846
Florida $2.351 $2.357 $2.384 $2.319 $1.877
Georgia $2.214 $2.220 $2.244 $2.185 $1.768
Tennessee $2.112 $2.117 $2.132 $2.076 $1.644
Click here to view current gasoline price averages

 

AAA updates fuel price averages daily at www.GasPrices.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 56 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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