Gas prices fall be­low $3, drop 19 cents

The Covington News - - BUSINESS - STAFF RE­PORTS news@cov­news.com

Av­er­age re­tail gaso­line prices in Cov­ing­ton have fallen 19 cents per gal­lon to $2.99 in the past week, av­er­ag­ing $3.18/gal last week.

This com­pares with the na­tional av­er­age that has fallen 3.7 cents per gal­lon in the last week to $3.26/ gal, ac­cord­ing to gaso­line price web­site At­lanta­GasPrices.com.

In­clud­ing the change in gas prices in At­lanta dur­ing the past week, prices yes­ter­day were 4.8 cents per gal­lon higher than the same day one year ago and are 5.3 cents per gal­lon lower than a month ago. The na­tional av­er­age has de­creased 11.3 cents per gal­lon dur­ing the last month and stands 10.0 cents per gal­lon higher than this day one year ago.

“While the na­tional av­er­age con­tin­ues to fall, we’ve done the math — the yearly av­er­age in 2012 is all but guar­an­teed to set all time record highs,” said GasBuddy.com Se­nior Pe­tro­leum An­a­lyst Pa­trick DeHaan. “We still stand at $3.63/gal for a yearly av- er­age, and gaso­line prices would need to av­er­age no more than $2.35/gal for ev­ery day left in 2012 for the na­tional yearly av­er­age to drop be­low 2011, some­thing that ap­pears im­pos­si­ble. In the mean­time, we have low­ered our forecast for Christ­mas gaso­line prices to av­er­age be­tween $3.25 to $3.35/gal,” DeHaan said.

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