Bad news on Wall Street means lower prices at the gas pump, as crude oil settled Friday for $79.20 per barrel.
According to AAA spokeswoman Jessica Brady, the falling prices aren’t likely to stop anytime soon.
“Gas prices continue to decrease as oil prices retreat below $80 a barrel and this trend is expected to continue for quite a while, unless positive news unexpectedly hits the market,” she said.
The current average price for a gallon of regular gasoline in the Augusta area is $3.186, significantly lower than the national average of $3.424 per gallon.
The U.S. isn’t the only economy that is struggling. Brady said reports last week showed that China’s manufacturing index dropped for a third month in a row and European retail sales declined last month.
Across the world, she said, fuel demand continues to falter as weak economies cause consumers to cut back on spending and travel.