By Atlanta Business Chronicle

The price of gasoline in Georgia fell 4 cents last week, according to AAA Auto Club South.

Gasoline is now averaging $2.58 a gallon, compared with $2.62 last week, $2.55 a month ago and $2.39 a year ago.

The national average price of unleaded regular gasoline is $2.71 a gallon.

The price of crude oil increased last week to settle Friday at $76.09 on the New York Mercantile Exchange, AAA noted. Part of the increase was in response to a report stating U.S. fuel consumption rose by 3.2 percent throughout the last week of June and into the July 4 weekend.

"As mentioned before, the price of crude oil will most likely trade between $70 and $80 a barrel for quite some time unless supply and demand are threatened by a hurricane this season," said Jessica Brady, AAA spokeswoman. "Retail gas prices may inch up a couple of cents this week, but prices will not fluctuate to a level that should alarm consumers."

Copyright 2010 American City Business Journals
Copyright 2010