At $2.72, the national gas price average is at its cheapest in six months, and northwest Georgia has some of the lowest prices in the state and country.
Chattooga’s average price per gallon is $2.484, compared to the national average of $2.723 and Georgia’s state average of $2.589.
Here are prices of some of the neighboring counties:
- Floyd: $2.515
- Walker: $2.543
- Catoosa: $2.505
- Whitfield: $2.471
- Dade: $2.512
Though gas prices prices are higher this year than last, gasoline demand is believed to have entered the winter lull sooner than expected.
The drop in demand has helped to push prices lower, following an unusual spike in pump prices seen last month due to increased crude prices. Crude prices are higher this year over last year due to global supply concerns, including the impact of the White House’s May sanctions on Iran’s crude exports.
Prices could go lower still as demand continues to drop. Analysts expected gas prices to still be increasing in reaction to the Iran sanctions, but they are now saying the worst has probably passed.
“With the market anticipating and reacting to the pending Iran sanctions throughout the summer, motorists likely have seen the worst in terms of retail prices for the year,” said Jeanette Casselano, AAA spokesperson. “If the crude oil market remains steady, gas prices are likely to continue to fall as much as ten cents in the near-term.”
That being said, should any factors cause an upward shift in crude oil prices, the cheaper gas prices would likely be a temporary trend.
(Adapted from a AAA press release)