(Media release from AAA – The Auto Club Group):
Georgia gas prices decreased at the pump compared to a week ago. Georgia drivers are now paying an average price of $4.04 per gallon for regular unleaded gasoline (subject to change overnight). Monday’s state average is 15 cents less than a week ago, 45 cents less than last month, and $1.07 more than this time last year.
It now costs $60.60 to fill a 15-gallon tank of regular gasoline. Drivers are paying an average of $16.05 more at the pump than last year.
“The decrease in demand, alongside declining oil prices, has helped to lower gas prices,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “As these supply/demand dynamics hold, drivers will likely continue to see relief at the pump.”
Decline in Gas Demand Drives Pump Prices Lower
Since last Monday, the national average for a gallon of regular gasoline has decreased by 15 cents to $4.53 (subject to change overnight). According to the Energy Information Administration (EIA), gas demand dropped from 9.41 million barrels a day to 8.06 million barrels a day last week, while total domestic gas stocks increased by 5.8 million barrels.
At the close of last Wednesday’s formal trading session, WTI increased by 46 cents to settle at $96.30 Although crude prices increased slightly due to the market expecting demand to remain robust throughout summer, longer-term market concerns about the potential for a recession due to rising interest rates and inflation created headwinds for oil prices last week. Declining crude demand, due to reduced economic activity or continuing COVID-19-related lockdowns in China, could continue the downward trend of gas prices.
Most expensive Georgia metro markets – Atlanta ($4.13), Hinesville-Fort Stewart ($4.12) and Athens ($4.11).
Least expensive Georgia metro markets – Warner Robins ($3.72), Albany ($3.74) and Valdosta ($3.79).
Current and Past Price Averages (Regular Unleaded Gasoline)
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|Click here to view current gasoline price averages|
Money-Saving Tips for Drivers
- Shop around for gas prices. Drivers can check area gas prices on the AAA Mobile App.
- Consider paying in cash vs. credit card. Some retailers charge extra per gallon for customers who pay with a credit card.
- Enroll in fuel savings programs.
Fuel-Saving Tips for Drivers
- Maintain your vehicle to ensure optimal fuel economy. Find a trusted automotive facility at AAA.com/AutoRepair.
- Combine errands to limit driving time.
- Slow down. Fuel economy diminishes significantly at highway speeds above 50 mph.
- Drive conservatively and avoid aggressive driving. Aggressive acceleration and speeding reduces fuel economy.
Gas Price Survey Methodology
AAA updates fuel price averages daily at www.GasPrices.AAA.com. Every day up to 130,000 stations are surveyed based on credit card swipes and direct feeds in cooperation with the Oil Price Information Service (OPIS) and Wright Express for unmatched statistical reliability. All average retail prices in this report are for a gallon of regular, unleaded gasoline.