Average price of gas up slightly in Georgia

TAMPA, Fla.- AAA says the average cost of fuel rose two cents in the last week to $2.54. Retail gasoline prices will remain relatively unchanged during the remainder of the Labor Day weekend and throughout the rest of the week, since the price of crude oil saw a minimal price reduction of 57 cents from the week prior. Economic news continues to show signs of a slow recovery with weakened demand.

U.S. petroleum stockpiles, consisting of both oil and fuel supplies, increased last week by more than four million barrels according to the Energy Department. Crude oil settled Friday at $74.60 a barrel on the New York Mercantile Exchange.

"Consumers won't see much of a change in retail gas prices this week, but it's very possible we could see a more significant decline next week," said Jessica Brady, manager, AAA Public Relations. "Typically after Labor Day, consumer demand drops and refineries begin a maintenance period as they start to prepare the switch in production from the summer blend fuel to the winter blend. The winter blend fuel is less expensive to produce and coupled with less demand results in lower gas prices for consumers."

The national average price of unleaded regular gasoline is $2.68 per gallon, 1 cent more than last week. Florida's average price of $2.62 remains unchanged, while Georgia's average price of $2.54 increased 2 cents. And, Tennessee's average price of $2.49 decreased 1 cent from last week, respectively.

CURRENT AND PAST PRICE AVERAGES
Regular Unleaded Gasoline

Current Week Ago Month Ago Year Ago
National: $2.684 $2.678 $2.779 $2.586
Florida: $2.626 $2.622 $2.732 $2.557
Georgia: $2.547 $2.522 $2.652 $2.411
Tennessee:$2.496 $2.502 $2.614 $2.412

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