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Gas prices slip as stock market struggles

October 15, 2018--8:35 a.m.

NEWS RELEASE

Gas prices declined over the weekend and that trend should continue this week.

Georgia gas prices declined 1-cent over the weekend.

The Georgia state average of $2.80 per gallon is 2 cents more than a week ago, 7 cents more than last month, and 35 cents more than this time last year.

"Fuel prices plunged on the stock market last week, which should clear the way for a significant discount at the pump," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "Motorists should see a 5-10 cent drop or more in the next 10 days. This is the type of downward movement we normally see at the pump during the fall. However, upward pressure could easily return later this month, as the market braces for U.S. sanctions against Iranian crude, and what that might mean for global supply and demand." 

Local gas price averages were $2.72 in Floyd and Chattooga County, $2.79 in Bartow and Polk County, and $2.76 in Gordon County.