Gas Prices Drop Statewide, but Hold Steady in Elbert County

October 30, 2013

After gas prices jumped on the announcement of the government reopen, bearish fundamentals pushed them back down.

U.S. inventories rose 5.25 million barrels last week to 381 million barrels, the most since June, according to the Energy Information Administration.

Current production is up about 6 percent as well.

Talks to suspend sanctions against Iran may increase global oil supply and also place downward pressure on fuel prices.

AAA’s Manager of Regulatory Affairs Avery Ash continues to expect gas prices to fall throughout the rest of the year.

“AAA expects gas prices to fall even further approaching the end of the year, as sufficient supplies, flat demand, cheaper winter blend gasoline, and falling crude prices mean cheaper prices at the pump”, said Ash.

The national average price of regular unleaded gasoline is $3.29, 6 cents less than last week.

Georgia’s average of $3.26 fell 4 cents from last week respectively.

No falling gas prices in Elbert Count however, as the low retail price for gasoline held steady at $3.17 a gallon.