ATLANTA — The price of gas when Russia invaded Ukraine in February was $3.50 a gallon.
Now, we’re below that for the first time since the invasion.
And in Georgia it’s even cheaper — exactly three dollars a gallon.
Channel 2′s Tom Regan was in Cobb County where gas prices have a lot of drivers smiling.
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At the QT on Lower Roswell Road, regular is going for $3.13 a gallon. But at many gas stations, it’s well below three dollars a gallon.
And drivers couldn’t be happier going into the holidays.
Stepanie Arandale said that just a few weeks ago, it cost a 110 bucks to fill her Mercedes SUV. It’s a gas guzzler, but the cost of guzzling is getting cheaper.
“You glad to see it dropping?” Regan asked. Arandale answered, “Oh yeah, very glad.”
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“This is the steepest decrease we have seen since early August,” Garrett Townsend of AAA Georgia said.
AAA says that while the national average price for a gallon of gas is $3.47, the price in Georgia is three bucks, and many places are selling it below three dollars.
What’s behind the fall? Fears of a U.S. recession and China’s COVID-19 lockdowns have played a part.
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“The biggest factor in gas prices declining is crude oil prices. Crude oil accounts for what we pay at the pump and we are seeing a decline as far as crude oil prices, so that’s contributing to the prices we are seeing,” Townsend said.
Kathleen Martin, a driver-ed instructor, says the falling price has lifted her holiday spirits.
“I’m kinda excited about it ‘cause I spend a lot in gas all the time for my personal use, as well as when I drive a company car, so yeah I’m excited about it,” Martin said.
Prices are expected to stay low going into Christmas, but keep in mind that the governor’s suspension of the state fuel tax on gas expires Dec. 11.
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