Wednesday October 7th, 2015 2:37AM

Gas prices forecast to fall through the summer

By Staff
TAMPA, Fla. - Barring any unforeseen events, gas prices have hit their spring peak and are likely to continue falling into the summer months. The national average price for a gallon of regular unleaded fell for the 13th consecutive day Sunday. Prices in Florida, Georgia and Tennessee are also on a downward streak of 18, 12, and 11 days respectively.

"Motorists are finally getting that steady break in gas prices that we were anticipating," said Mark Jenkins, spokesman, AAA The Auto Club Group. "The discount at the pump is expected to continue, as prices are forecast to be in line with last year's levels by Memorial Day weekend.

Gas prices are falling because of record supplies. The Energy Information Administration (EIA) estimates total U.S. crude oil production in April reached its highest monthly average since March 1988. The national average price for the month is forecast to be $3.72/gal. The EIA forecasts that monthly average to fall 21 cents by September.

"Last year, gas prices fell through June, then rose in July," Jenkins said. "This year, record U.S. crude inventories should put downward pressure on gas prices all summer. As always, natural disasters or supply disruptions could change that."

The national average price for a gallon of regular unleaded gasoline on Sunday was $3.65. Georgia's average price also was $3.65; a year ago at this time, the Georgia average was $3.44.
© Copyright 2015
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Judge denies motions to move, delay Tsarnaev trial
Lawyers for Boston Marathon bombing suspect Dzhokhar Tsarnaev asked a federal appeals court Wednesday to overturn a judge's decision to not move his upcoming trial out of state.
10:02PM ( 9 months ago )
High court to adopt electronic filing of cases
The Supreme Court is belatedly developing an electronic filing system similar to those used in courts around the country, Chief Justice John Roberts said Wednesday in his annual end-of-year report.
7:57PM ( 9 months ago )
Storm brings snow, cold to West for New Year's
A blustery winter storm dumped snow and ice across the West on Wednesday, making driving treacherous in the mountains from California to the Rockies and forcing residents and party-goers in some usually sun-soaked cities to bundle up for a frosty New Year's.
5:19PM ( 9 months ago )
U.S. News
State DOT awards $48M contract for NE Ga. road project
The state Department of Transportation has awarded a $47.8 million contract for nine miles of work on a northeast Georgia road.
9:37AM ( 9 months ago )
Business News
Grass fire impacts rush hour traffic on 985
Rush hour traffic on I-985 was slowed by a grass fire Wednesay afternoon with one lane closed while firefighters fought the blaze.
10:19PM ( 9 months ago )
Hall County conviction, sentencing to be reviewed by SCOGA
The State Supreme Court has agreed to hear the appeal of a Hall County man when they reconvene in January.
2:37PM ( 9 months ago )
Maysville man dies from Banks County wreck
The Georgia State Patrol reports that alcohol and/or drugs were factors a single-vehicle wreck that claimed the life of a Maysville man in Banks County Tuesday night.
11:07AM ( 9 months ago )
Local/State News
Cornelia keeping same millage; taxes up slightly
Even though the tax digest for Cornelia is up $1.7 million due to inflationary increase, city leaders anticipate collecting less taxes for Tax Year 2015.
9:48PM ( 4 hours ago )
Helen approves water line project at lower cost, better return
The Helen City Commission has approved changing a planned water line, a move their engineering firm will save the city money and produce better results.
9:07PM ( 5 hours ago )
Gainesville approves millage rate, asked to rethink some aspects of the rate
The millage rate for property owners in the City of Gainesville is now officially set, but final approval was not without some dissent.
9:05PM ( 5 hours ago )
Demorest man charged with setting fire in Clarkesville
State investigators have made an arrest in connection with a Sept. 26 arson fire near Clarkesville.
8:47PM ( 5 hours ago )
UPDATE: Testimony begins in trial for one of two remaining defendants in murder, attempted robbery of Gainesville cabbie
Testimony began Tuesday in the trial of one of two remaining defendants in the murder and attempted robbery of a Gainesville cab driver earlier this year.
5:22PM ( 9 hours ago )