Georgia Gas Prices Drop to $2.79 as Fall Demand Cools Down

Georgia drivers are paying less at the pump as fall weather settles in and gas prices continue to drop across the state.

What’s Happening: Gas prices fell to $2.79 per gallon on Monday, down 2 cents from last week, 9 cents from last month, and 14 cents from this time last year.

• Filling up a 15-gallon tank now costs about $41.85, which is $2 less than a month ago.
• Low crude oil prices and fewer people traveling are keeping prices down.

What’s Important: Drivers are saving money right when they need it most, with prices dropping as people take fewer road trips during the fall season.

Between the Lines: The national average sits at $3.05 per gallon, which means Georgia drivers are paying 26 cents less than most Americans.

Where It’s Cheapest: The lowest prices in Georgia are in Catoosa-Dade-Walker at $2.73, Rome at $2.76, and Dalton at $2.78. Atlanta drivers are paying $2.83 per gallon.

Where It’s Highest: Savannah has the state’s most expensive gas at $3.01, followed by Hinesville-Fort Stewart at $3.00 and Macon at $2.91.

🔑 Key Term- Average: The “average” is a value that represents the middle point of a group of gas prices, indicating what is typical for those prices overall. However, the price you see at your local gas station may not be exactly the average due to factors such as location, competition, or recent changes in supply and demand. Different stations may set their prices based on local market conditions, taxes, and operating costs, leading to variations from the average price in the area. This means that while the average gives a general idea of what gas costs, individual prices can be higher or lower depending on these specific factors.

⛽ About Gas Prices: Gas prices can change 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.

The Big Picture: Gas demand across the country held steady at 8.45 million barrels per day last week, while supply dropped slightly from 218.8 million barrels to 216.7 million. Production increased to 9.6 million barrels per day. These numbers show that even with less gas in storage, steady demand and strong production are keeping prices stable.

The Sources: AAA.