Crude oil and gasoline prices remained volatile across the country.
In the past couple of weeks, prices in most states have fluctuated slightly, while motorists in the southeast have seen slow and steady declines. Since last week, the average price for a gallon of regular unleaded fell 1 cent in Tennessee, 2 cents in Florida, and 3 cents in Georgia.
“Gas prices in the southeast are falling at about the same rate as they did during June 2013,” said Mark Jenkins, spokesperson with AAA the Auto Club Group. “However, the discount at the pump could end anytime. The summer months tend to be more volatile with increased demand, geopolitical tensions and the potential for hurricanes.”
High demand and positive economic news are keeping a floor on gas prices. Last week, the Energy Information Administration reported the highest four-week gasoline demand figures in 35 months.
The price of crude oil climbed Friday, following a report that U.S. payrolls exceeded their pre-recession peak. That is encouraging economic news and raises expectations of further increases in gasoline demand.
So far, supplies have met the heightened demand.