Tuesday December 18th, 2018 12:59PM

Gas prices decline in the state as oil prices remain volatile

By Alyson Shields Reporter

Prices are down again this week, with prices declining up to three cents in the past week in Georgia.

AAA and agree, prices have dropped 2.8 to 3 cents to a state average between $2.36 to $2.40. Atlanta rings in the highest prices at $2.43 to $2.45 and Savannah closely follows at $2.42. The lowest prices were spotted in Albany at $2.31 by AAA and GasBuddy points to Augusta's low price at $2.28 a gallon.

"Oil prices remain volatile yet several dollars off recent highs. Gasoline prices remain in somewhat of a limbo as a result, with a mixed bag at pumps across the United States," said Patrick DeHaan, head of petroleum analysis for GasBuddy. "Thus far, we have seen a market that's lacked solid upward movement when it usually sees exactly that. This could lend weight to oil prices being too high, but at the same time, we continue to see if any major disruptions occur at U.S. refineries to offset any devaluation in the price of oil. So far the balance is in the middle, but threats remain in the months ahead- we're still expecting a surge, so motorists aren't off the hook by any means yet."

AAA said gasoline has averaged the highest price for the month of March in four years, with motorists paying $3 more for a full tank compared to this same time last year. 

Crude oil is $14 per barrel more than last year - preventing a plunge at the pump - closing at $62.04 per barrel. That's an increase of 79 cents from the week before. Meanwhile, gasoline futures finished the week down 3 cents from Monday's closing price and wholesale gasoline prices declined 2 cents last week.

  • Associated Categories: Local/State News
  • Associated Tags: AAA, Gas prices, GasBuddy
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Gas prices decline in the state as oil prices remain volatile
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