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Posted: September 25, 2012 9:56 p.m.

Gas prices drop 8.4 cents in past week

Average retail gasoline prices in Newton County have fallen 8.4 cents per gallon in the past week, averaging $3.67/gal Monday.

This compares with the national average that has fallen 4.3 cents per gallon in the last week to $3.81/gal, according to gasoline price website AtlantaGasPrices.com.
Including the change in gas prices in Atlanta during the past week, prices yesterday were 35.4 cents per gallon higher than the same day one year ago and are 7.6 cents per gallon lower than a month ago. The national average has increased 8.8 cents per gallon during the last month and stands 29.0 cents per gallon higher than this day one year ago.

According to AAA spokeswoman Jessica Brady, inclement weather, the Federal Reserve's stimulus plan and continue violence overseas has kept an upward pressure on both oil and gas prices, last week's report on fuel demand reversed trends.

"Whether or not this downward trend will continue is uncertain, what is certain is that we are going to see more volatility in oil prices," Brady said. "Gas prices made more significant losses than recently seen with states averages in the Southeast falling 5 cents or more from last week."

"The national average has begun to drop nicely over the last week, and while it certainly doesn't feel like much, it is noteworthy," said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. "Oil prices were all over the map last week, closing in on $100/bbl one day and dropping to $92/bbl later in the week. I've probably had more double takes watching oil prices in the last week than I've had all summer. Watching oil prices last week was as wild as watching the Detroit Tigers try to take a division lead over the White Sox," DeHaan said.

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