Gas prices continue to drop

Published 12:00 am Wednesday, July 4, 2012

Raymond Laster pumps gas recently. | Andrew Garner/Star-News



Going into the July 4 holiday, gas prices fell for the 13th straight week, and it’s something that hasn’t happened since Americans saw a 15-week streak that came to a halt in December 2008.

Locally, the average is $3.02 a gallon, down 4 cents from last week, and down from $3.27 last month.

Gas can be found as cheap as $2.98 per gallon at several stores in Anda-lusia; $3.09 per gallon in Florala; and $2.99 in Opp.

On average, it costs $45.31 cents to fuel a vehicle with a 15-gallon tank, opposed to $50.46 this time last year.

The national average dropped nearly 3 cents over the weekend to $3.32 per gallon on Monday, the lowest in almost six months.

Still, last week’s spike in the price of oil may have been a little overdone.

AAA spokesman Clay Ingram said that crude oil has been over-priced for all of 2012, but that things are finally getting down in the investment world, which also helps to push prices downward.

“We should see prices to continue to decline in the coming weeks and could see bigger drops during the fall,” he said.

Benchmark U.S. crude oil dropped 1.4 percent in New York, pairing back some of the 9.4 percent increase on Friday.

Oil fell by $1.21 to end the day at $83.75 per barrel.

Brent crude oil also dropped by 46 cents, or less than a percent, to finish at $97.34 per barrel in London.