The Gist: Gas prices in Georgia continue to decrease, with the average price per gallon for regular unleaded gasoline now at $3.39. This is 17 cents lower than last week, 24 cents lower than a month ago, and 21 cents higher than this time last year.
The decrease in prices is influenced by lower demand, the return of schools, shorter days, and Governor Brian Kemp’s suspension of the state gas tax.
What Happened?: Gas prices in Georgia have gone down compared to previous weeks. The average cost per gallon of regular unleaded gasoline is now $3.39, which is 17 cents less than last week. This decrease is also reflected in the prices compared to a month ago, with a difference of 24 cents. However, when compared to the same period last year, prices have increased by 21 cents.
By The Numbers:
- Gas prices in Georgia have dropped to an average of $3.39 per gallon for regular unleaded gasoline.
- The current state average is 17 cents lower than last week’s average.
- Compared to a month ago, gas prices have decreased by 24 cents.
- However, prices are still 21 cents higher than they were at this time last year.
- The cost to fill a 15-gallon tank with regular gasoline is now an average of $50.85.
- Compared to a month ago, Georgians are saving nearly $4.00 when filling up their tanks.
Why It Matters: The decline in gas prices in Georgia is attributed to a combination of factors. Although crude oil prices have been increasing, lower demand for gas has helped to offset the rise in costs. With schools back in session and fall approaching, fewer people are fueling up, which contributes to the lower demand. Additionally, Governor Brian Kemp’s suspension of the state gas tax until October 12th has also played a role in pushing pump prices down.
What’s Next?: As fall approaches, the national gas price average may gradually decrease. Currently, the national average for a gallon of regular gasoline stands at $3.87, which has increased due to the surge in oil costs. However, gas demand has significantly decreased, while total domestic gasoline stocks have risen. Although the combination of lower demand and increased stocks would typically lead to lower gas prices, the elevated oil prices have counteracted this effect. It remains to be seen how these factors will continue to impact gas prices in the coming weeks.
Regional Prices:
- The most expensive metro markets in Georgia are Savannah ($3.47), Atlanta ($3.42), and Hinesville-Fort Stewart ($3.41).
- The least expensive metro markets in Georgia are Catoosa-Dade-Walker ($3.30), Brunswick ($3.29), and Albany ($3.23).
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