Regular unleaded finally dips below the dreaded $4 mark, locally
It’d been a while, more than a month, but regular unleaded began selling for less than $4 around Milledgeville beginning late last week.
Murphy USA in the Walmart shopping center was at $3.88 earlier today, according to gasbuddy, which was the low mark on the site, locally.
Gasbuddy on Monday set the statewide average at 4.16, which is the lowest since the first week in June.
AAA came up with a similar price of $4.18 during its fuel forecast on Sunday. Georgia has the second-cheapest gas in the nation, trailing South Carolina by several tenths of a penny. California, meanwhile, continues to lead the nation at $6.09.
An article in Forbes recently theorized that “recession fears” are helping drive down the cost of oil and, in turn, prices at the pump. “U.S. benchmark West Texas Intermediate traded below $100 per barrel for the first time since early May,” added the article.
However, several large investment banks and firms don’t expect the sub-$100 barrel prices to last. “Barclays, Goldman Sachs, RBC and UBS all still predict oil to rise again to between $110 and $130 per barrel by the end of 2022,” according to the article.