Monday, October 10, 2011

Gas Prices Far Lower Than They Were a Month Ago

Average retail gasoline prices in Atlanta have fallen 3.4 cents per gallon in the past week, averaging $3.22/g Sunday, according to CBS Atlanta.
The national average fell 2.1 cents per gallon last week to $3.42/g, according to gasoline price website
Gas prices are 32.6 cents per gallon lower than a month ago.
But even though prices are dropping, prices Sunday were 56.9 cents per gallon higher than the same day one year ago.
The national average has decreased 24.0 cents per gallon during the last month and stands 61.8 cents per gallon higher than this day one year ago.
"After oil prices briefly dropped to $75/bbl in the last two weeks, we've seen a mini-rally take place, driving prices up to a more recent mark of $82/bbl. The volatility we continue to see in oil prices isn't surprising, and will likely continue as a fragile economy and some upbeat investors play the market," said Patrick DeHaan, Senior Petroleum Analyst. "What this means for motorists is a continued roller coaster ride at the gas pump. While I don't expect a huge of movement in either direction, these up and down fluctuations in gas prices will become the norm ahead of a volatile spring 2012 time period," DeHaan adds.

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