Gas Prices Continue To Fall

By Atlanta Business Chronicle

Georgiaâ¿¿s gas prices fell 8 cents last week and Peach State gas prices are expected to continue to shrink due to discouraging economic news, according to AAA Auto Club South.

Gas prices now average $3.27 a gallon in Georgia, compared with $3,35 a week ago, $3.58 a month ago and $2.58 a year ago.

The national average price of regular unleaded gasoline is $3.42 a gallon -- down 8 cents.

Oil prices dropped after reports showed Chinaâ¿¿s manufacturing index dropped for a third month in a row, while European retail sales declined last month and U.S. consumer spending continues to slow, AAA AUto Club South noted. Fuel demand continues to falter as weak economies cause consumers to cut back on spending and travel.

Crude oil settled Friday at $79.20 a barrel on the New York Mercantile Exchange -- 65 cents less than the week prior.

Copyright 2011 American City Business Journals

http://www.bizjournals.com/atlanta/news/2011/10/03/gas-prices-continue-to-fall.html?ana=thestreet

Copyright bizjournals.com 2010

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