AAA: Prices at the pump begin to drop - WTOC-TV: Savannah, Beaufort, SC, News, Weather & Sports

AAA: Prices at the pump begin to drop

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TAMPA (WTOC) -

For the first time since January, the weekly average price for a gallon of gas has retreated, according to AAA The Auto Club Group.

Gas prices have climbed since mid-January and broke records, making February's average of $3.65 the highest in history.

Oil prices also fell last week after reports of poor manufacturing data in China and Europe created concern of a decrease in global fuel demand.

"We're starting to see the inflated price of oil and gas drop to more appropriate levels given the economic circumstances," said Jessica Brady in a news release, spokeswoman, AAA-The Auto Club Group. "This is the first week since January that gas prices have decreased. Hopefully this trend continues throughout March. However, March is the peak time for refinery maintenance to occur which could keep upward pressure on gas prices."

The value of the dollar also increased against foreign currencies and helped push oil prices lower.

"Motorists should see gas prices ease back a little more this week." stated Brady.

The national average price of regular unleaded gasoline is $3.75 per gallon, 3 cents less than last week. Georgia's average of $3.71 per gallon fell 6 cents from last week, according to AAA The Auto Club Group.

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