Price of gas continues to drop around region

Gas prices dipped another 6 cents nationwide since last week, and locally that means the average price of gas is also coming down in Cedartown and Rockmart.

The average price per gallon fell 5 cents in Florida, and 6 cents in both Georgia and Tennessee.

“Motorists should expect another week of discounts at the pump,” said Mark Jenkins, spokesman, AAA - The AAA spokesman.

“Oil prices remain especially low and gas prices are slowly catching up.”

The price of oil averaged $45.16, a decline of $1.57 from last week. The market remains over-saturated with oil, helping to keep prices down. The price of oil is forecast to remain low through the rest of the year due to shrinking demand now that the peak summer driving season is over. The U.S. Energy Information Administration forecasts the price of WTI oil to average $49 this year, and $54 in 2016.

Locally, that translates to prices continuing to sink at the pump. In Cedartown as of Monday, prices were down to $2.14 a gallon at a few stations. Rockmart’s lowest station at the Smart Mart on Goodyear Street was down to $2.15 a gallon, but most stations in the area remain around $2.19 a gallon.

In addition to low oil prices, the cost to produce gasoline will get even cheaper as refineries shift to winterblend fuel. That shift is happening now, with a deadline of September 16. Winter-blend gasoline is cheaper to produce because it contains less additives.