Average retail gasoline prices in Atlanta have fallen 4.8 cents per gallon in the past week, averaging $3.42/gal yesterday. This compares with the national average that has fallen 3.6 cents per gallon in the last week to $3.65/gal, according to gasoline price website AtlantaGasPrices.com.
Including the change in gas prices in Atlanta during the past week, prices yesterday were 30.5 cents per gallon lower than the same day one year ago and are 26.0 cents per gallon lower than a month ago. The national average has decreased 15.7 cents per gallon during the last month and stands 13.4 cents per gallon lower than this day one year ago.
"Summer driving season has officially begun with the national average falling far lower than we expected it earlier this year," said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. "The national average has dropped to a surprising $3.65/gal mark as of today. Had you asked me back in January if the national average would have been that low on Memorial Day, I would likely have chuckled, but it goes to show anything is possible," DeHaan said. GasBuddy forecast back in January that the national average would peak between $3.75 to $4.15/gal. The national average peaked at $3.92/gal on April 5, far sooner than many analysts, including DeHaan, expected it to occur.
The national average price of regular unleaded gasoline is $3.64, 5 cents less than last week.
Florida's average of $3.48 and Tennessee's average of $3.34 both decreased 7 cents from last week. And, Georgia's average price of $3.40 fell 6 cents from last week, respectively.
Rumors of gas prices rising this week due to oil price increases is just that.
"While Europe's financial issues still weigh heavy on the market, some bullish news has come to light that could cause oil prices to increase this week," said Jessica Brady, AAA spokeswoman. "Just because oil prices may inch up this week, doesn't mean we're going to see a spike in retail gas prices. At this point, it looks like pump prices will continue to fall at a steady pace as we enter June."