AAA: Georgia gas down 4 cents

| October 31, 2016

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The average price at the pump has fallen for 15 of the last 16 days, for a total savings of 4 cents per gallon. The national average currently sits at $2.22 per gallon, which is two cents less than one week ago, one cent more than one month ago and 1 cent more year-over-year. The National average is down 17 cents per gallon versus the 2016 peak price reached in June ($2.39).

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Drivers across much of the South and Southeast continue to enjoy relatively cheap pump prices, and a reported five percent increase in regional gasoline stocks has caused wholesale prices to drop in some areas. Gulf Coast refiners are slowly recovering from planned and unplanned maintenance, but the region is also tasked with sending large supplies of gasoline to Mexico, where refiners are running at half capacity. Reports from OPIS show that Gulf Coast refiners historically overproduce in November and December which could result in cheaper prices for drivers, but for now, the market is balanced. Drivers in Arkansas ($2.03), Texas ($2.05), South Carolina ($2.05) and Mississippi ($2.06) are enjoying pump prices among the top ten lowest in the nation.

Parts of the Southeast are still recovering from Hurricane Matthew which significantly dropped demand in the region. The Hurricane, mixed with exports and refinery issues in the Gulf Coast have moved prices significantly over the past month in some southern states with three making the list of top-five largest monthly increases: Texas (+10 cents), Florida (+10 cents) and Louisiana (+9 cents).

Motorists can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.

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