Savannah gas prices remain unchanged from last week - WTOC-TV: Savannah, Beaufort, SC, News, Weather & Sports

Savannah gas prices remain unchanged

Posted: Updated:
SAVANNAH, GA (WTOC) -

The average retail price of gas in Savannah remained unchanged in the past week, averaging $3.65 per gallon on Sunday, according to GasBuddy's daily survey of 262 gas outlets in Savannah.

The national average increased 2.5 cents per gallon in the last week to $3.65 per gallon, according to GasBuddy.com.

Including the change in gas prices in Savannah during the past week, prices on Sunday were 30.2 cents per gallon higher than the same day one year ago and are 25.2 cents per gallon higher than a month ago. The national average jumped 12.9 cents per gallon during the last month and stands 16.5 cents per gallon higher than the same day a year ago.  

"While the national average has risen for the 12th straight week, it is likely nearing a peak," said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan in a news release. "Gas price increases have continued since early February but are likely nearing an end as oil refineries conclude seasonal maintenance, and the switchover to summer gasoline is nearing completion. Meanwhile, oil inventories are at their highest ever level as reported by the Energy Information Administration, which cited crude oil stocks at a record high of 397.7 million barrels, which should help propel oil prices lower in coming weeks as some storage facilities near capacity. For motorists, the peak to retail gasoline prices is likely very near, with some relief to follow in coming weeks as pressure eases on factors that drive gasoline prices."

Copyright 2014 WTOC. All rights reserved.

Powered by WorldNow