JACKSONVILLE, Fla. – Motorists in the southeastern United States should find the lowest Labor Day gas prices in a decade. The current state average prices of $2.31 in Florida and Georgia, and $2.17 in Tennessee are $1.06, $1.02, and $1.04 cheaper than the price during last year's holiday respectively.
"Low gas prices are added incentive for Americans to take a road trip this Labor Day weekend," AAA spokesman Mark Jenkins said. "Low gasoline prices are an added boost in disposable income, giving travelers more money to spend on lodging, shopping, and dining out."
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Last week, the price of oil dropped below $40 a barrel, the lowest settlement price since February 2009. During that time, the national average price of gasoline averaged $1.90. However, oil rallied toward the end of the week, settling at $45.22 on Friday.
"The price of oil steadily climbed toward the end of the week due to a strengthened U.S. economy. However, analysts expect the oil glut to continue through the rest of the year, preventing any major spikes in oil or gas prices. Motorists will likely continue seeing gas prices move toward $2 or below through the rest of the year," Jenkins said.
The current national average price of gasoline is $2.48 -- 12 cents lower than a week ago, 19 cents lower than a month ago, 95 cents lower than this time last year. The current Florida average price of $2.31 is 7 cents cheaper than last week, 23 cents cheaper than a month ago and $1.06 from a month ago.
The current Georgia average of $2.31 is 8 cents lower than last week, 21 cents lower than last month and $1.03 lower than this time last year. The current average price of $2.17 is 9 cents lower than last week, 20 cents lower than a month ago, and $1.05 lower than this time last year.