//Georgia’s gas prices drop again

Georgia’s gas prices drop again

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ATLANTA, GA., (August 10, 2020) — Georgia gas prices decreased slightly at the pump compared to a week ago. Georgia motorists are now paying an average price of $1.97 per gallon for regular unleaded gasoline. Monday’s state average is 2 cents less than a week ago, 2 cents less than last month, and 57 cents less than this time last year.

It now costs motorists $29.55 to fill a 15-gallon tank of gasoline; that is $11.55 less than what motorists paid in April of 2019, when pump prices hit their peak of $2.74 per gallon.

“Pump prices continue to decrease across the state due to lower than normal U.S. gasoline demand and healthy stock levels,” said Montrae Waiters, spokeswoman, AAA – The Auto Club Group.

Since last Monday, the national average for a gallon of regular gasoline has decreased by a penny to $2.17.  In the new weekly report from the Energy Information Administration (EIA), gas demand fell from 8.8 million barrels a day to 8.6 million barrels a day. Decreasing demand for gasoline has helped pump prices to stabilize, and if demand continues to drop, pump prices could push cheaper in the coming week.

Oil Market Dynamics

At the close of last Thursday’s formal trading session, WTI decreased by 24 cents to settle at $41.95. Domestic crude prices decreased due to a weak U.S. dollar and despite EIA’s weekly report revealing that total domestic inventories decreased by 7.4 million barrels last week, lowering total stocks to 518.6 million barrels. The decrease in total supply, amid falling gasoline demand, could mean that the domestic crude market is rebalancing. However, if crude prices climb, pump prices could follow suit, depending on how local gasoline supply and demand market conditions take shape.

Regional Prices

Atlanta ($1.95)

  • Most expensive Georgia metro markets – Brunswick ($2.10), Hinesville-Fort Steward ($2.09) and Savannah ($2.05).
  • Least expensive Georgia metro markets – Dalton ($1.89), Athens ($1.90) and Columbus ($1.95). 

 CURRENT AND PAST PRICE AVERAGES (Regular Unleaded Gasoline) 

SundaySaturdayWeek AgoMonth AgoOne Year Ago2019 Low2019 HighRecord High
National$2.17$2.17$2.18$2.18$2.67$2.23 (January)$2.90 (May)$ 4.11 (7/17/2008)
Georgia$1.97$1.97$1.99$1.99$2.54$2.04 (January)$2.74 (April)$4.16 (9/15/2008)
Click here to view current gasoline price averages

Gas Price Survey Methodology

AAA updates fuel price averages daily at www.GasPrices.AAA.com. Every day up to 130,000 stations are surveyed based on credit card swipes and direct feeds in cooperation with the Oil Price Information Service (OPIS) and Wright Express for unmatched statistical reliability. All average retail prices in this report are for a gallon of regular, unleaded gasoline.

Visit the AAA Georgia Newsroom

Twitter @AAAGeorgia 

About AAA – The Auto Club Group

The Auto Club Group (ACG) is the second largest AAA club in North America with more than 14 million members across 14 U.S. states, the province of Quebec and two U.S. territories. ACG and its affiliates provide members with roadside assistance, insurance products, banking and financial services, travel offerings and more. ACG belongs to the national AAA federation with more than 60 million members in the United States and Canada. AAA’s mission is to protect and advance freedom of mobility and improve traffic safety. For more information, get the AAA Mobile app, visit AAA.com, and follow us on Facebook, Twitter and LinkedIn.