Tuesday, June 1, 2010
© Copyright 2014
Gwinnett Daily Post
LAWRENCEVILLE -- Gasoline prices dropped Tuesday for the 26th straight day as lower oil prices continued to trickle down to drivers paying at the pumps.
And it appears there is room for prices to drop even lower.
After hitting a national average of $2.929 per gallon May 6, retail gasoline prices had fallen 20.2 cents, or nearly 7 percent, to $2.727 per gallon Tuesday.
In Gwinnett, drivers were paying as low as $2.54 for a gallon of regular unleaded gasoline.
Statewide, the average price for regular unleaded gasoline was at $2.61 on Tuesday, down from $2.69 a week ago.
Tom Kloza of the Oil Price Information Service said while the daily streak of lower prices is likely to end before mid-June, prices still have another 10 or 12 cents to fall.
Prices in other parts of the country already are also well below the national average. Ohio, Missouri, South Carolina and Oklahoma are among other states where gas has dropped below $2.60 per gallon.
Oil has fallen from $87.15 per barrel a month ago amid worries that the European debt crisis could hurt the global economic recovery and squash demand for crude.
Retail gasoline prices fell 0.5 cents overnight, 5.5 cents in the past week and 15.6 cents in the past month. Pump prices are 21.5 cents higher than a year ago.
Oil prices finished lower Tuesday after testing higher levels. Benchmark crude for July delivery fell $1.39 to settle at $72.58 a barrel on the New York Mercantile Exchange.
The Associated Press contributed to this story.