TAMPA, Fla. - AAA is reporting that gas prices fell another 7 cents last week as the national average settled at $2.07, moving closer to $2 a gallon. If it happens, this would be the first time the national average was under $2 in nearly six years (March 2009). <br />
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"The national average could be $2 or less by this time next week," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "Gasoline has been falling at a rate of about 1-cent a day and that trend is likely to continue in the next seven days."<br />
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On Sunday, there were 24 states with an average price below $2 a gallon. Georgia and Ohio both shared an average of $2.01, and will likely fall below the $2 threshold within the next couple of days.<br />
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The average price in Georgia of $2.01 fell 9 cents in the past seven days, which is 43 cents cheaper than a month ago, $1.20 less than the average price this time last year. The average price in Florida was $2.14 on Sunday, 9 cents cheaper than a week ago, 40 cents less than a month ago, and $1.24 below the average price this time last year. The Tennessee average of $1.91 is 6 cents cheaper than last week, 40 cents less than a month ago, and $1.19 below the average price this time last year. <br />
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Crude oil remains at the lowest levels since April 2009. The price for a barrel of WTI settled at $48.69 on the NYMEX on Friday. That settlement is 33 cents higher than the week before, and $2.62 higher than the settlement last Monday, but oil prices could continue in a downward trend moving into this week.<br />
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Barring any major increases in the global price of crude oil, AAA expects the national average price for regular unleaded gasoline to remain below $3.00 per gallon in 2015. The dramatic slide in retail gas prices has been driven by a similar plummet in global crude oil prices since the end of the summer. WTI prices have fallen $58.57 since June 20.<br />
