Average retail gasoline prices in Savannah have fallen 2.2 cents a gallon in the past week to $2.25 a gallon on Sunday, according to GasBuddy’s daily survey of 262 gas outlets in Savannah.
The national average has fallen 3.0 cents a gallon in the last week to $2.39, according to gasoline price website GasBuddy.com.
Prices Sunday in metro Savannah were $1.24 a gallon lower than the same day one year ago and are 6.9 cents a gallon lower than a month ago. The national average has decreased 7.3 cents a gallon during the last month and stands $1.18.5 a gallon lower than this day one year ago.
“Motorists have seen a quiet week at the pump with gasoline prices in much of the country in gentle decline,” said Patrick DeHaan, GasBuddy senior petroleum analyst. “The current downward trend in the national average bucks what we were seeing a year ago when gasoline prices were in an upward trend, and what we’re seeing with prices remaining relatively low should boost motorist confidence as the summer driving season nears.
“It’s a good time to reiterate that I expect this summer’s gasoline prices to be at their lowest seasonal levels since 2010, and most areas will see prices at least one dollar a gallon under where they were last summer.”
Some gas price increases may begin showing up in the Northeast where summer blends and reformulated gasolines are beginning to hit retail outlets, DeHaan said, though the pain there may not be as bad as what was expected last week.
Thanks to optimism surrounding the Iran nuke deal, oil prices declined late last week and took some bite out of the expected jump, he said.