Retail gas prices are forecast to decrease throughout the end of the year. Both oil and gas prices dropped last week after the value of the dollar increased to a two-week high.
The value of the dollar increased against the euro after the Labor Department announced the U.S. unemployment rate fell to 7.7 percent in November and Germany cut its economic growth outlook for 2013.
According to AAA’s Manager of Regulatory Affairs Avery Ash, fuel demand is expected to stay low to start the New Year.
“While nationwide demand will increase slightly as motorist travel to visit family for the holidays, demand is expected to remain low to begin 2013, which will keep downward pressure on gas prices”, said Ash. “Lower crude oil prices have also contributed to the dip in fuel costs.”
The national average price of regular unleaded gasoline is $3.35, 4 cents less than last week. Georgia’s state average price of $3.26 fell 2 cents last week, respectively.