After a one-week surge, gas prices are down again

A week ago, we reported on surge in gasoline prices in Gainesville and the rest of the state following lifting of the suspended state gasoline tax. Now, just a week later we can report that the opposite has happened – prices are declining again.

The average cost if a gallon of regular unleaded in Gainesville today is $3.00, four cents less than it was last Monday. The statewide average dipped three cents in the past seven days to $3.03 a gallon. The national average is also less than last week – $3.15 a gallon.

The main reason is a weaker cost for oil, which is struggling to stay above $70 per barrel, AAA reports.  The falling price comes just a week after OPEC+ announced voluntary production cuts of about 2 million barrels daily. 

“Historically, crude oil tends to drop nearly 30 percent from late September into early winter with gasoline prices trailing the play,” said spokesman Andrew Gross. “More than half of all U.S. fuel locations have gasoline below $3 per gallon. By the end of the year, the national average may dip that low as well.”

Click here to check prices elsewhere in Georgia and the country: AAA Gas Prices