cloudy
Monday May 25th, 2015 11:13AM

Crude oil prices drop for 6th straight week, pump prices flat

By Staff
TAMPA, Fla. - The cost for a barrel of oil fell last week for the sixth week in a row and remains below $95 a barrel. Although crude prices moved lower, retail gas prices remained relatively flat from the week prior.

Increased supplies continue to place bearish pressure on oil prices. U.S. stockpiles of crude oil rose for the eighth week in a row as refinery output climbed to a 24-year high, according to the Energy Information Administration. Stockpiles increased by 2.6 million barrels to 388 million barrels and refinery output jumped by 123,000 barrels. Although crude prices inched lower, the price for a gallon of gas fluctuated a few cents in both directions.

"Gas prices are still looking good for the upcoming holiday weekend," said Jessica Brady, AAA spokeswoman, The Auto Club Group. "Pump prices have stabilized a bit, but remain below last year's averages. Even if gas prices were to move higher in the next couple of weeks, they're not expected to have a major impact on holiday travel plans."

The national average price of regular unleaded gasoline is $3.21, 2 cents more than last week. Florida's average of $3.23 rose 3 cents. Georgia's average of $3.19 increased a cent, while Tennessee's average of $3.06 fell a cent from last week.

© Copyright 2015 AccessNorthGa.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
S&P 500 index has its best year since 1997
The stock market closed out a record year with more all-time highs on Tuesday, giving U.S. indexes their biggest annual gains in almost two decades.
6:56PM ( 1 year ago )
Colorado readies for 'Green Wednesday' pot sales
Police were adding extra patrols around pot shops in eight Colorado towns that plan to allow recreational sales to anyone over 21 on Jan. 1.
1:52PM ( 1 year ago )
Kerry seeks framework for Mideast peace talks
A senior State Department official says Secretary of State John Kerry will try this week to get Israel and the Palestinians to agree on a framework for negotiating a final peace agreement, yet cautions against raising expectations for Kerry's latest round of shuttle diplomacy.
1:35PM ( 1 year ago )
U.S. News
Missing Ga. bank director arrested in Brunswick
A bank director accused of losing millions of investors' dollars before vanishing last year was arrested Tuesday during a traffic stop in a city in south Georgia.
7:00PM ( 1 year ago )
Amtrak to suspend some Crescent service in Jan., Feb.
Amtrak service will shut down in parts of the Southeast for several days in January and February for rail maintenance by Norfolk Southern Railway.
9:00AM ( 1 year ago )
Lung cancer scans urged for some smokers, not all
Certain current or former heavy smokers should start getting yearly scans for lung cancer to cut their risk of death from the nation's top cancer killer, government advisers said Monday - even as they stressed that the tests aren't for everyone.
7:26AM ( 1 year ago )
Business News
Sex offender held in Hall County for failing to register
A 47-year-old man was booked into the Hall County Jail Tuesday, being held without bond for allegedly failing to register as a sex offender, his second such arrest.
6:09PM ( 1 year ago )
Pharmacy robberies may involve same suspect
Oakwood Police Tuesday afternoon released details in a pharmacy robbery they're investigating, similar to one that happened in the Hall County Tuesday morning.
5:46PM ( 1 year ago )
Victim critical following apartment fire
A 41-year-old woman was in critical but stable condition Tuesday after being rescued from an apartment fire in Forsyth County late Monday afternoon.
3:16PM ( 1 year ago )
Local/State News
Traffic accident kills one person near Cornelia
The Georgia State Patrol confirms one person was killed in a traffic accident in Habersham County Monday morning.
10:35AM ( 38 minutes ago )
Plan for bullet train from Chattanooga to Atlanta likely stopped in its tracks
Chattanooga is looking into the possibility of building light commuter rail throughout the city, but a long-running plan to connect the Tennessee city to Atlanta with a bullet train is likely stopped in its tracks.
By Associated Press
8:07AM ( 3 hours ago )
School funding question top task for Deal's education panel
A panel appointed by Gov. Nathan Deal to review the way Georgia funds education heads into a key meeting this week.
By Associated Press
6:16AM ( 4 hours ago )
Body found in Chattahoochee River identified
Forsyth County authorities identified the body pulled from the Chattahoochee River late Saturday afternoon.
By Staff
5:13PM ( 18 hours ago )
Boat sinks near Van Pugh Park, no injuries
Seven people got a scare Sunday, but no one was hurt, when a boat sank in Lake Lanier near Van Pugh Park.
2:14PM ( 20 hours ago )