The average price for a gallon of gasoline in Georgia dropped two cents since last week, according to AAA Auto Club South.
The average price per gallon in Georgia is now $2.538, compared with $2.558 a week ago, $2.652 a month ago and $1.807 a year ago.
Global oil demand is expected to dive in certain European countries such as Greece, Portugal, and Spain, on speculation that efforts to reduce deficits will curb economic recovery. The Euro also dropped to an eight-month low and pushed the value of the dollar even higher, causing crude oil prices to drop to a seven-week low. Crude oil closed on the New York Mercantile Exchange at $71.19 a barrel on Friday.
“As long as the U.S. dollar continues its momentum in strength, crude oil prices should continue to drop as commodities, like crude, lose investor appeal,” said Jessica Brady, spokeswoman for AAA Auto Club South.
