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AAA: JANUARY GAS PRICES WERE THE LOWEST IN THREE YEARS

Written by Matt Davis on February 4, 2019. Posted in Uncategorized

Gasoline for the month of January was the lowest in three years, according to AAA, The Auto Club Group. Gas prices across the nation averaged $2.25 per gallon last month. 

Mark Jenkins, AAA spokesman, says, “Motorists have benefited from strong global crude oil supplies, which have kept gas prices low so far this year. Last month, oil prices averaged about $10 less than in January 2018.  However, oil prices are beginning to rise, as OPEC cuts and sanctions against Venezuela weigh on the market.  These factors, in addition to rising demand, refinery maintenance season and the switch to summer-blend gasoline will eventually boost prices at the pump in the coming months.”

Jenkins adds, “AAA still expects the national average to peak around $2.75 a gallon sometime before Memorial Day weekend.”

The price of crude settled at $55.26 per barrel on the NYMEX on Friday. The daily settlement was nearly $2 per barrel more than the week before.

Gas prices in Georgia slipped two cents during the past week.  Drivers in the Peach State are finding an average price of $2.14 per gallon.  Although that’s seven cents more than a month ago, Sunday’s state average remains 35 cents per gallon less than this time last year.

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