By Al Sunshine, Consumer Investigator, for SouthFloridaReporter.com, Aug 4, 2015 – It looks like a great time to gas-up and drive somewhere. Pump prices are falling and predicted to go even lower. But as we all know, they mysteriously get jacked up again around Labor Day weekend. I’ve seen gas prices drop by about fifteen cents a gallon the past week. If it’s not dropping in your neighborhood, someone’s reeping some extra profits.
Per Triple-A:
Gas prices should continue dropping to catch up with the recent decline in the cost of crude oil. All things being equal, a $12 decline in crude oil costs could reduce gas prices by as much as 29 cents per gallon. Given that prices have already dropped about 14 cents per gallon since reaching a 2015 high in June, drivers could see prices drop another 15 cents per gallon in the near term if oil remains stable and refineries operate at current production levels. Gas prices could drop even further if oil continues to fall and gasoline supplies grow larger this month.
The recent price declines are hopefully just a precursor of much bigger savings to come at the pump,” continued Jenkins. “We could see many parts of the country make another run towards $2 per gallon by the end of the year if everything keeps running smoothly.”
There are a number of factors that could keep gas prices from falling as expected, such as major refinery disruptions, higher oil costs, a major hurricane or conflict overseas.
State Price Breakdown
Florida gas prices averaged $2.63 in July. Prices have declined for 26 consecutive days, for a total of 16 cents since July 8.
Georgia gas prices averaged $2.62 in July. Prices have declined for 25 consecutive days, for a total of 16 cents since July 9.
Tennessee gas prices averaged $2.51 in July. Prices have declined for 25 consecutive days, for a total of 15 cents since July 9.
CURRENT AND PAST PRICE AVERAGES
Regular Unleaded Gasoline
 |
Sunday |
Saturday |
Week Ago |
Month Ago |
Year Ago |
2015 Peak Price |
2015 Lowest Price |
|
National |
$2.652 |
$2.655 |
$2.715 |
$2.767 |
$3.510 |
$2.80 (6/15) |
$2.03 (1/26) |
|
Florida |
$2.512 |
$2.518 |
$2.582 |
$2.681 |
$3.420 |
$2.72 (6/18) |
$2.07 (1/31) |
|
Georgia |
$2.499 |
$2.505 |
$2.561 |
$2.658 |
$3.402 |
$2.72 (6/15) |
$1.99 (1/28) |
|
Tennessee |
$2.369 |
$2.373 |
$2.424 |
$2.534 |
$3.275 |
$2.58 (6/17) |
$1.88 (1/26) |
|
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Click here to view current gasoline price averages |
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