The Gist: Georgians find a bit of relief at the pump, as average gas prices continue to slide down. The state’s drivers are now shelling out an average of $3.30 per gallon for regular unleaded, marking a substantial dip compared to a month ago.
What Happened?: On Monday, the state average for a gallon of regular unleaded gasoline was set at $3.30. The current rate is 9 cents cheaper than last week and 29 cents less than a month ago. Despite this, it’s 18 cents more than the same time last year. Filling up a 15-gallon tank will now set you back an average of $49.50, which is about $4.35 less than it would have a month ago.
The downward trend has been influenced by the switch to a cheaper winter blend of gasoline, along with the Governor’s recent suspension of Georgia’s state gas tax, according to Montrae Waiters from AAA.
By The Numbers:
- Savannah: Most expensive metro area at $3.38 per gallon
- Atlanta: $3.34 per gallon
- Hinesville-Fort Stewart: $3.33 per gallon
- Catoosa-Dade-Walker: Least expensive at $3.19 per gallon
- Warner Robins: $3.19 per gallon
- Albany: $3.12 per gallon
Why It Matters: While a decline in gas prices offers a financial breather to Georgia drivers, the slight uptick in costs compared to last year still places some strain on household budgets. The drop in the state is happening alongside a modest decrease in national gas prices, which now stand at an average of $3.84 per gallon.
What’s Next?: The national average is expected to continue its modest decline due to the switch to less expensive winter-blend gasoline. However, a rise in oil costs, currently hovering around $90 a barrel, could slow down the seasonal drop in prices. Industry watchers also note that the gas demand rose slightly from 8.31 to 8.41 million barrels a day last week, while total domestic gasoline stocks dipped from 220.3 to 219.5 million barrels, according to the Energy Information Administration.
Money-Saving Tips for Drivers:
- Consider shopping around for gas prices using resources like the Fuel Price Finder.
- Weigh the benefits of paying in cash versus using a credit card. Some gas stations offer lower rates for cash payments.
- Think about enrolling in fuel savings programs to make the most of your dollars.
Fuel-Saving Tips for Drivers:
- Keep your vehicle well-maintained to ensure optimal fuel economy.
- Combine errands whenever possible to limit driving time.
- Adopt a conservative driving style, particularly by avoiding aggressive acceleration and maintaining moderate speeds. Higher speeds above 50 mph significantly reduce fuel economy.
⛽ About Gas Prices: Gas prices can change a frequently, and there are many reasons why. It isn’t as simple as most people think. The biggest reason is the cost of crude oil, which can go up or down based on both world events and how much people want it. There are also costs to make the oil into gas and get it to gas stations. Different locations have different types of gas, and that can also change the price. Taxes also add to the cost. Sometimes, bad weather or problems at oil refineries can make prices go up or down quickly. Also, if the U.S. dollar is strong or weak, that can affect the price. All these things together give us the final price we see when we fill up our tanks.
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