ATLANTA — Drivers finally have something to cheer about when they pull up to the pump. Gas prices across Georgia have been steadily declining over the past few weeks.
“Right now, we are at an average $3.55 a gallon for unleaded. That’s 14 cents lower than where we were with regular this time last week,” said Georgia AAA representative Garrett Townsend.
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AAA says there are several factors behind the price decline, including more refinery capacity and lower oil prices. Crude oil is now below $100 a barrel.
“Crude prices fell last week. There’s market concerns about weakening demand and an economic slowdown. All those factors are really contributing to the lower gas prices we’re seeing at the pump,” said Townsend.
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The weakening demand is caused by more drivers avoiding unnecessary trips.
However, prices could rebound if refinery capacity is interrupted.
“Clearly, the hurricane issue is one of those events that could have an impact on refineries and have a short-term impact on oil and gas prices,” said Enerecap Partners energy and oil analyst Chris Edmonds.
The decline in gas prices is especially welcome by contractor Paulo Neto. He says two weeks ago, it cost $130 to fill his work truck. The cost has since declined to about $90.
“It’s about time, right? That’s a lot of savings. It is, every week. That adds up to a big difference.” said Neto.
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