Pump prices will likely remain stable for the remainder of the month as multiple factors place equal pressure on oil prices.
Poor job data and lackluster fuel demand place downward pressure on crude prices, while a weak dollar and increased oil imports in China keep prices elevated. December's payrolls rose at the slowest pace since January of 2011, according to the Labor Department. Whereas China's imports of crude jumped 13 percent year-over-year for the month of December.
Jessica Brady, AAA spokesperson, The Auto Club Group, said "Motorists should see pretty stable gas prices this month. Gas prices in the Southeast are slightly cheaper than they were this time in 2012, whereas the national average is the same as last year."
The national average for a gallon of regular, unleaded gasoline is $3.31, a penny less than last week.
Georgia’s average of $3.21 fell 2 cents. A week ago it was $3.42; last month $3.40; and, a year ago $3.44.
CURRENT AND PAST PRICE AVERAGES
Regular Unleaded Gasoline
Current Week Ago Month Ago Year Ago
Georgia: $3.211 $3.232 $3.207 $3.338
Next Fuel Price Brief: Sunday, January 19, 2013