March Gas Prices End Month 13 Cents Below Last Year's Average - Local news, weather, sports Savannah | WSAV On Your Side

March Gas Prices End Month 13 Cents Below Last Year's Average

After the national average for a gallon regular gasoline rose 50 cents from January 1, to peak at $3.79 on February 27, prices fell consistently throughout March. Last year, March's national monthly average for a gallon of gas was $3.83; this year, prices averaged $3.70. Prices are expected to increase in April, however motorists in the Southeast shouldn't be concerned about pump prices averaging more than $4 a gallon.  There would need to be a severe supply disruption for this to occur.

In 2012, gas prices peaked in April at $3.93, before steadily decreasing throughout the heart of summer.

"Although gas prices may drop another cent or two this week, there's a strong likelihood they will increase throughout April," said Jessica Brady, AAA spokeswoman, The Auto Club Group. "Positive economic news and signs of increased U.S. demand pushed oil prices to a six-week high and, if the momentum continues, gas prices will go right back up."

Oil prices rose after the Commerce Department reported an increase in GDP and fuel demand increased the most since December, according to the Energy Information Administration.

A barrel of oil closed Friday at $97.23 on the New York Mercantile Exchange — $3.52 more than the week prior. 

The national average price of regular unleaded gasoline is $3.64, 3 cents less than last week. Georgia's average of $3.50 fell 3 cents from last week.

 

CURRENT AND PAST PRICE AVERAGES

Regular Unleaded Gasoline

                                Current                  Week Ago             Month Ago           Year Ago

National:                            $3.636                    $3.671                 $3.771                 $3.925

Georgia:                             $3.502                    $3.531                 $3.734                 $3.846

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