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Gas prices drop 8.7 cents in past week

Georgia, August 15- Average retail gasoline prices in Georgia have fallen 8.7 cents per gallon in the past week, averaging $3.53/g yesterday. This compares with the national average that has fallen 4.7 cents per gallon in the last week to $3.60/g, according to gasoline price website GeorgiaGasPrices.com.

Including the change in gas prices in Georgia during the past week, prices yesterday were 94.3 cents per gallon higher than the same day one year ago and are 12.2 cents per gallon lower than a month ago. The national average has decreased 6.7 cents per gallon during the last month and stands 85.4 cents per gallon higher than this day one year ago.

"After watching oil decline dramatically two weeks ago, prices rebounded some $12/bbl last week, which may severely limit relief at the gas pump," says Patrick DeHaan, GasBuddy.com Senior Petroleum Analyst. "The smallest sliver of hope in the economy seems to make some market players forget the bigger issues this country faces. Last week, this situation led to buying spree in oil prices, something that I just don't see lasting," DeHaan adds.

About GeorgiaGasPrices.com

GasBuddy.com operates over 200 live gasoline price-tracking websites, including GeorgiaGasPrices.com. GasBuddy.com was named one of Time magazine's 50 best websites and to PC World's 100 most useful websites of 2008.

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winner
+1 #1 winner 2011-08-15 13:24
first! drill baby drill.
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