partlycloudy
Tuesday June 30th, 2015 5:27PM

Crude oil prices drop to 12-week low, pump prices lower

By Staff
TAMPA, Fla. - Amicable talks with Iran's leadership, a possible government shutdown, and easing tensions with Syria pushed oil prices near $100 a barrel last week. As a result of the lower cost of crude, fall gas prices are expected to continue on a downward trend.

Talks with Iran could mean a removal of sanctions and the return of Iranian oil to the market. Currently, the oil market is well stocked. Crude inventories unexpectedly rose for the first time in a month by about 3 million barrels, according to the Energy Information Administration (EIA). The EIA initially forecast a 1 million barrel increase in supplies.

"At this time, every indicator points to lower gas prices," said Jessica Brady, AAA spokeswoman, The Auto Club Group. "Southeast gas prices are about 20 to 25 cents less than they were a month ago and are well below last year's averages at this time. Fuel prices will likely remain affordable and could reach close to $3 a gallon if prices continue to drop as forecast."

A barrel of oil settled Friday at $102.87 on the New York Mercantile Exchange-$1.80 less than the week prior.

The national average price of regular unleaded gasoline is $3.41, 7 cents less than last week. Florida's average of $3.35 and Georgia's average of $3.26 both fell 6 cents from last week. Tennessee's average of $3.21 decreased 4 cents from last week.
© Copyright 2015 AccessWDUN.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 This material may not be published, broadcast, rewritten, or redistributed without permission.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
Forsyth Co. SO investigating rainbow flag burning as hate crime
A northwest Forsyth County homeowner woke up Tuesday morning and discovered someone had taken their rainbow flag and set it on fire.
4:57PM ( 30 minutes ago )
Hall Co. Finance Director Neikirk resigns
Hall County Finance Director Vickie Neikirk has resigned.
4:53PM ( 34 minutes ago )
E. Hall boy hit by car while buying treat from ice cream truck
A 7-year-old Hall County boy was seriously injured when he apparently darted in front of a car after getting a treat from an ice cream truck.
By AccessWDUN staff
4:30PM ( 57 minutes ago )
Kipper Tools, local and state leaders celebrate successful military relationship
When the U.S. military needs an assortment of mechanical tools and supplies, put together in kit-form, for specialized jobs being done around the world by our armed forces, it has repeatedly turned to Kipper Tools in Gainesville to meet the need.
1:50PM ( 3 hours ago )
Dozens of new laws take effect in Ga. tomorrow
Tomorrow brings with it a new year for state government, and dozens of laws that go into effect for the first time.
By The Associated Press
1:31PM ( 3 hours ago )