The Gist: Relief is coming slowly at the pump for Georgia drivers as gas prices dip slightly, but the national trend suggests caution.
What Happened?: After a recent surge, gas prices in Georgia have begun to ease. The average price for a gallon of regular unleaded gasoline now stands at $3.63, a 3-cent drop from last week. However, this is still 35 cents higher than a month ago and 11 cents more than the same time last year.
Filling up a 15-gallon tank now costs almost $55.00, nearly $2.00 more than a year ago. Montrae Waiters, spokeswoman for AAA, attributes the recent spike to the summer heat affecting refinery production.
By The Numbers:
- $3.63 – Current average price per gallon in Georgia.
- $3.84 – National average price per gallon.
- 8.84 to 9.30 million – Jump in gas demand in barrels a day last week.
- 219.1 to 216.4 million – Decrease in total domestic gasoline stocks in barrels.
Why It Matters: The stability in gas prices, despite rising demand and dwindling supplies, is unusual. The national average has been around $3.82 for nearly two weeks. This stability exists even with oil prices nearing the mid-$80s per barrel and gas demand increasing.
What’s Next?: As the summer heat eases, refinery production might stabilize. However, with the cost of oil still a significant factor, Georgians should keep an eye on it to anticipate future price trends. If gas demand remains high and oil prices continue their upward trajectory, drivers might see another hike in prices soon.
Regional Prices:
- Most Expensive: Savannah ($3.68), Atlanta ($3.66), and Hinesville-Fort Stewart ($3.65).
- Least Expensive: Warner Robins ($3.55), Rome ($3.54), and Catoosa-Dade-Walker ($3.52).
⛽ 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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