Gasoline Prices Fall After Reaching Spring Peak last Week

May 14, 2014

Barring any unforeseen events, gas prices have hit their spring peak and are likely to continue falling into the summer months.

The national average price for regular unleaded gasoline fell for the 13th consecutive day.

Gas prices are falling because of record supplies.

The Energy Information Administration (EIA) estimates total U.S. crude oil production in April reached its highest monthly average since March 1988.

Last year, says AAA Spokesman Mike Jenkins, gas prices fell through June, then rose in July. This year, record U.S. crude inventories should put downward pressure on gas prices all summer.

As always, natural disasters or supply disruptions could change that said Jenkins.

The national average price for a gallon of regular unleaded gasoline on Sunday was $3.65.

Georgia’s average price also was $3.65 respectively.

Gas prices in Elbert County held steady from this point last week, coming in at $3.68 per gallon; that according to motortrend.com.

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