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VALDOSTA — Gasoline prices across Georgia have been plummeting in recent weeks but don’t expect the freefall to last forever, a local economist warns.

The average price for a gallon of regular gasoline in Valdosta Wednesday was $2.80, down nine cents in a week and far below the $3.05 per gallon level a year ago, according to the AAA Daily Fuel Gauge report.

The lowest price reported in the Azalea City Wednesday was $2.59 per gallon at a West Hill Avenue store, not counting prices at buyer’s clubs where only club members get the lowest price.

Nationally, the average price of gas was $3.21 per gallon, down 14 cents in seven days, while Georgia’s average of $2.84 per gallon was down a dime in the same period, the auto club said.

The war between Russia and Ukraine helped trigger the spike in gas prices earlier this year, with Russia cutting gas supplies to Europe, pushing prices up as more countries needing oil and gas were forced to buy from a smaller supply pool.

There has been a reduction of demand recently as people started cutting back on driving, said Cynthia Tori, economics professor at Valdosta State University.

Also, in March, Gov. Brian Kemp signed a temporary suspension on Georgia’s motor fuels tax, which has been extended since then. The state normally tacks a 29-cent tax onto every gallon of gasoline.

“Prices will increase as soon as the tax is reimposed, which is expected in January or February,” Tori said.

“The seasonal pattern of less driving due to shorter days and crummy weather, combined with a lower oil cost, is driving gas prices lower,” said Andrew Gross, AAA spokesperson. “If this trend continues, many states could see their average prices fall below $3 a gallon by early next year.”

In midday market action, U.S. benchmark crude lost 30 cents to $75.09 per barrel in electronic trading on the New York Mercantile Exchange. It jumped $2.22 on Tuesday to $75.39 per barrel.

Brent crude, the pricing basis for international trading, shed 34 cents to $80.34 per barrel.