Gas prices leveled off over the weekend, after declining for more than three weeks, according to Sunday's fuel price report from AAA.
On Sunday, state averages rose by fractions of a penny in Florida and Tennessee, after declining 39 and 22 consecutive days respectively. Conversely, the Georgia average declined for the 20th consecutive day on Sunday, but by very small fractions of a cent.
"Oil and wholesale gasoline prices rose last week, causing the dip in gas prices to stall," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "There's upward pressure on fuel prices right now, based on optimism that OPEC will agree on production cuts, in effort to curb the global oversupply that left prices low. The outcome of that November 30th meeting could cause swings of $10 in oil and 25 cents in gasoline, by the end of the year."
During the past week, crude oil averaged $47.49, $2.23 more than the week before. Wholesale gasoline prices shifted 10 cents higher. Retail gas prices declined 3 cents in Georgia, and 2 cents in Florida and Tennessee.
Thanksgiving Day gasoline prices averaged $2.13 nationally, $2.10 in Florida, $2.09 in Georgia, and $1.94 in Tennessee. Prices were the second lowest for Thanksgiving Day since 2008. Compared to last year's holiday, gas prices were up 8 cents nationally, 2 cents in Florida, 10 cents in Georgia, and 6 cents in Tennessee.
