Gas price averages dipped slightly from last week across the Southeast, but that doesn't mean the downward trend will continue. Oil and gas prices are expected to remain volatile in the weeks to come, especially as peak hurricane season approaches.
The same factors—tensions in Egypt, supply drops, and inclement weather—continue to place upward pressure on oil prices. However, it was China's recent cut in excess manufacturing that caused crude prices to drop slightly from last week, creating concerns of slowed economic growth and reduced fuel demand in the country. This factor alone isn't enough to cause oil prices to drop sharply to the point that motorists will see a significant difference in pump prices.
Georgia's average of $3.50 decreased 4 cents from last week.
Mark Jenkins, AAA spokesman, The Auto Club Group,
(813) 288-7906 office, (813) 449-2734 cell, MAJenkins@AAASouth.com