Average retail gasoline prices in Savannah have fallen 5.7 cents a gallon in the past week to $2.83 a gallon on Sunday, according to GasBuddy’s daily survey of 262 gas outlets in Savannah.
The national average has fallen 3.9 cents a gallon in the last week to $2.99, according to gasoline price website GasBuddy.com.
Prices Sunday in Savannah were 40.7 cents a gallon lower than the same day one year ago and are 43.9 cents a gallon lower than a month ago. The national average has decreased 33.0 cents a gallon during the last month and stands 27.9 cents lower than a year ago.
“This past weekend we witnessed the national average declining under $3 a gallon for the first time since Dec. 22, 2010, an impressive feat that seems to have caught many motorists by surprise,” said Patrick DeHaan, senior petroleum analyst with GasBuddy. “We have two different scenarios for gas prices from here on. If oil prices hold their current $80 level, gas prices nationally may see their decline wind down, only dropping another few cents.
“But if oil prices can drop to $78 or less, we could see the national average decline for several more weeks. It’s hard to tell right now which way the market will go since oil prices have halted their decline in the last week.”