Georgia gas prices decreased at the pump compared to a week ago.
Georgia drivers are now paying an average price of $4.19 per gallon for regular unleaded gasoline (subject to change overnight). Monday’s state average is 13 cents less than a week ago, 24 cents less than last month, and $1.26 more than this time last year.
It now costs $62.85 to fill a 15-gallon tank of regular gasoline. Drivers are paying $18.90 more at the pump than last year.
“Georgia pump prices are drifting lower as crude oil continues to decline,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “So far, the decrease in crude prices have had a noticeable impact at the pump, but if crude prices rise this week consumers could see an increase in gas at their local stations.”
Decreasing Crude Oil Prices Push Gas Prices Lower
Since last Monday, the national average for a gallon of regular gasoline has decreased by 13 cents to $4.68 (subject to change overnight). According to the Energy Information Administration, gas demand increased from 8.92 million barrels a day to 9.41 million barrels a day ahead of the Fourth of July holiday, while total domestic gas stocks decreased by 2.5 million barrels. Typically, these supply/demand trends would put upward pressure on pump prices; however, falling oil prices have contributed to lower pump prices.
Crude oil prices continue to face strong headwinds amid broad market concerns regarding the potential for economic growth to slow or stall due to rising interest rates and inflation. A lower economic growth rate than expected could cause crude demand to decline, leading prices to follow suit. Additionally, EIA reported that total domestic crude stocks increased by 8.2 million barrels to 423.8 million barrels last week, which is nearly 22 million barrels lower than the storage level last year.
Most expensive Georgia metro markets – Atlanta ($4.28), Hinesville-Fort Stewart ($4.28) and Athens ($4.25).
Least expensive Georgia metro markets – Warner Robins ($3.87), Albany ($3.88) and Valdosta ($3.96).
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 atwww.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.
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