Bad economic news has one silver lining -- cheaper gas prices.
Oil prices have fallen along with the stock market, leading to lower prices for gasoline. Though oil prices went up slightly Tuesday, they were back on their way down Wednesday.
September futures for benchmark West Texas Intermediate crude oil closed at $82 Wednesday on the New York Mercantile Exchange.
At the beginning of last week, oil prices were nearing $100 a barrel, according to Patrick DeHaan, oil and gas price analyst for Gasbuddy.com.
Along Bullsboro Drive Wednesday afternoon, stations offered regular unleaded for as little as $3.54 a gallon.
In Palmetto, regular unleaded could be had for as little as $3.53. Other stations in Coweta were still dealing with higher-priced gas, with prices hovering around $3.69 on U.S. 29 North.
On July 26, the cheapest regular unleaded in Coweta was $3.69 a gallon. On July 18, the cheapest regular unleaded was $3.63.
The national average was $3.637 Wednesday, according to AAA's fuelgaugereport.com website. That's down from $3.652 Tuesday, and $3.701 a week ago.
The national average was $3.631 a month ago.
In Georgia, the state average was $3.619 Wednesday, down from $3.635 Tuesday and down from $3.711 a week ago. The average hasn't gotten quite as low as it was a month ago, at $3.591.
"We're watching an incredible decline in the price of crude oil and gasoline futures that will most certainly have an impact in the upcoming week at the pump," said DeHaan on Monday. "While motorist won't see large drops all at once, I most certainly expect declines in the days ahead. Oil prices have shed nearly $15 per barrel in just a week -- a dramatic decline brought on by various concerns, but mainly a weak manufacturing report and concerns" over the U.S. bond rating downgrade.
"By Monday, the U.S. average may fall to $3.54 per gallon," DeHaan said on Monday.
"Be sure to only buy what you need, as I expect prices at the pump to decrease nearly daily. Diesel prices will also be falling, so truckers can rejoice as well."
