- Average retail gasoline prices in Savannah have fallen 2.9 cents a gallon in the past week to $3.30 a gallon on Sunday, according to GasBuddy’s daily survey of 262 gas outlets in Savannah. The national average has fallen 1.7 cents a gallon in the last week to $3.47, according to gasoline price website GasBuddy.com.
Prices Sunday were 12.0 cents a gallon lower than the same day one year ago and are 19.0 cents a gallon lower than a month ago. The national average has decreased 15.4 cents a gallon during the last month and stands 8.2 cents lower than a year ago.
“Gasoline prices continue to hold near the lowest levels of the summer,” said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. “It’s relatively rare to see prices holding lower in the mid-to-late summer, as hurricanes tend to weigh on prices and demand for gasoline is highest during the second half of the summer. However, oil prices rallied in mid-June, altering the behavior of gasoline prices, and after the situation in Iraq cooled, it let to a widespread selloff in commodities that led to cheaper oil prices and refineries passed the savings onto motorists.
“The best news is that as the driving season concludes, prices are likely to drop- most significantly in late September through the holidays.”