Gas prices in Georgia continue to drop ahead of Memorial Day

May 22, 2023
1 min read
Gas prices in Georgia continue to drop ahead of Memorial Day

The Gist: Ahead of Memorial Day, Georgia drivers continue to see decreased prices at the pump. The average price of regular unleaded gasoline dropping to $3.25 per gallon, a cent less than a week ago.

What Happened?: This Monday’s average price is 13 cents less than a month ago, and a whopping 89 cents less than this time last year.

A full tank of 15 gallons of regular gasoline now costs $48.75, which means motorists are paying nearly $14.00 less for a fill-up compared to a year ago.

The Quote: Montrae Waiters, spokeswoman for AAA, commented on the situation. “Gas prices remain steady as Memorial Day approaches,” she noted. “A decline in demand and the low cost of oil are the main culprits. It’s possible this is merely the lull before Memorial Day, but it could be a trend that lingers into summer. Stay tuned.”

By The Numbers: Here are the average prices per gallon in Georgia’s metro areas.

  • Atlanta: $3.28
  • Savannah: $3.37
  • Hinesville-Fort Stewart: $3.31
  • Augusta-Aiken: $3.29
  • Dalton: $3.17
  • Columbus: $3.16
  • Catoosa-Dade-Walker: $3.15

Why It Matters: Georgia residents are keenly watching these figures as they prepare for Memorial Day travels and the upcoming summer. A continuous drop in gas prices can significantly impact household budgets, particularly for those reliant on car travel.

The Big Picture: On the national front, the average price for a gallon of regular gasoline remains stuck at $3.53, unchanged from a week ago. Energy Information Administration data shows that gas demand has dropped from 9.30 to 8.91 million barrels a day over the last week. This reduced demand has eased the pressure on pump prices. However, if gas demand continues to decrease, Georgia drivers, and indeed all American motorists, could expect further declines in pump prices.

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