Gas price falls, still much above last year

Gas price falls, still much above last year

ALBANY, GA (WALB) - Average retail gasoline prices in Georgia have fallen 3.2 cents per gallon  in the past week, averaging $2.17 per gallon Sunday, according to GasBuddy's daily survey of 5,883 gas outlets in Georgia.

Including the change in gas prices in Georgia during the past week, prices yesterday were 43.7 cents per gallon higher than the same day one year ago and are 6.6 cents  per gallon  lower than a month ago.

Georgia gas prices at the end of January have ranged widely over the last five years: $1.73 in 2016, $1.99 in 2015, $3.19 in 2014, $3.32 in 2013 and $3.45 in 2012.

Here are some Georgia metro gas prices:

Augusta- $2.09, down 4.4 cents from last week's $2.14.

Macon- $2.13, down 4.0 cents from last week's $2.17.

Atlanta- $2.18, down 3.8 cents from last week's $2.22.

Click HERE to see prices in the Albany area

"For the 22nd straight day, the national average for a gallon of gasoline has dropped, the longest such streak since last summer," said Patrick DeHaan, senior petroleum analyst for GasBuddy. "Average prices now stand at their lowest thus far in 2017 and the lowest since before Christmas, thanks primarily to weak demand for gasoline and also bulging inventories of gasoline."

"Soaking weather on the West Coast has certainly dampened motorists' appetite for gasoline, while in the Midwest, weak demand has led to a surplus of winter gasoline, leading some stations in the region to offer the nation's lowest price: $1.52 can be found at a gas station in Oxford, Ohio."

"But before motorists celebrate such cheap gas, the sweet deal likely won't stick much longer as we've been waiting since last week to see such loss-leaders to disappear. However, we may continue to see the national average moderate during the next week, with the exception in the Great Lakes- where a price adjustment of sorts is still expected," DeHaan said.

Copyright 2017 WALB.  All rights reserved.