Average retail gasoline prices in Savannah have fallen 1.7 cents a gallon in the past week to $2.80 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 $2.89, according to gasoline price website GasBuddy.com.
Prices Sunday in Savannah were 41.1 cents a gallon lower than the same day one year ago and 24.2 cents a gallon lower than a month ago. The national average has decreased 25.5 cents a gallon during the last month and stands 29.8 cents lower than a year ago.
“Just a week ago, I was becoming concerned that the national average would level off unless crude oil prices kept dropping, and that’s exactly what happened,” said Patrick DeHaan, senior petroleum analyst with GasBuddy. “Suddenly, the market turned bearish again and crude dropped as low as $74 a barrel before closing the week out at a $2 a barrel loss.
“Either way, the decline in crude price renews the downturn at the pump that had stabilized last week and helped the national average tip back into a downward decline. In most places across the country we should see the downward trend continue or re-emerge this week.”