Fuel Price Brief for the Week of December 7

FUEL PRICE BRIEF Florida & Georgia Contact Mark Jenkins, spokesman, AAA - The Auto Club Group, office: (813) 288-7906, cell: (850) 532-0730, MAJenkins@AAASouth.com Tennessee Contact Don Lindsey, TN Public Affairs Director, AAA - The Auto Club Group, office: 865-862-9250, cell: 865-250-0914, DLindsey@AAASouth.com Visit the AAA Newsroom

AAA: GAS PRICES FALL 73RD CONSECUTIVE DAY

TAMPA, Fla. (December 7, 2014) — Gas prices are falling like the winter-time snow. The national average price for a gallon of regular unleaded ($2.70) dropped 10 cents in the past week, and is the lowest price since September 2010. The average price has fallen for 73 consecutive days - dropping 66 cents since September 26th.

"The shale boom continues putting downward pressure on the price of oil, which pushes gas prices even lower," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "Oil prices are forecast to drift lower next week, which means gas prices will follow suit. Gas prices could fall another 15 cents before the end of the year. It's possible that motorists could find some stations selling gas as low $2 a gallon in some markets, but it's unlikely that average prices would hit those levels."

The price of oil dropped to the lowest level in five years. A barrel of WTI settled at $65.84 - 31 cents cheaper than the week prior. The shale boom has helped boost U.S. oil production to 9.08 million barrels a day - the fastest rate on record, which dates back to 1983.

Florida's average price ($2.70) is 7 cents cheaper than a week ago, 73 cents cheaper than this time last year. The state average fell for the 65th consecutive day Sunday, dropping 62 cents since October 4.

Georgia's average price ($2.61) is 8 cents cheaper than a week ago, 62 cents cheaper than this time last year. The state average fell for the 66th consecutive day Sunday, dropping 70 cents since October 3.

Tennessee's average price ($2.49) is 8 cents cheaper than last week, 64 cents cheaper than this time last year. The state average fell for the 23rd consecutive day Sunday, falling 19 cents since November 11.

 
CURRENT AND PAST PRICE AVERAGES

Regular Unleaded Gasoline