The national average price of regular is $2.65 per gallon and Georgia’s average price is $2.53 per gallon, both reflecting a 2-cent decrease from last week. A year ago, the prices were $1.91 and $1.80, respectively.
Motorists in LaGrange report finding regular for as low as $2.44 at some stations. In Georgia, the average price for a gallon of regular today is $2.529, midgrade is $2.718, premium is at $2.839 and diesel is selling for $2.756.
Global oil demand is forecast to take a dive in certain European countries such as Greece, Portugal and Spain, on speculation that efforts to reduce deficits will curb economic recovery.
The euro dropped to an eight-month low and pushed the value of the U.S. dollar even higher causing crude oil prices to drop to a seven-week low.
“As long as the U.S. dollar continues its momentum in strength, crude oil prices should continue to drop as commodities, like crude, lose investor appeal,” said Jessica Brady, public relations specialist, AAA Auto Club South.
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