According to AAA, average gas prices in Georgia dropped two cents last week.
ATLANTA, GA., (March 29, 2021) — Georgia gas prices decreased slightly at the pump compared to a week ago. Georgia motorists are now paying an average price of $2.72 per gallon for regular unleaded gasoline. Monday’s state average is 2 cents less than a week ago, 15 cents more than last month, and 86 cents more than this time last year.
It now costs motorists $40.80 to fill a 15-gallon tank of gasoline; that is $3.90 more than what motorists paid in January of 2020, when pump prices hit their peak of $2.46 per gallon.
“A dip in demand along with a simultaneous increase in supply and refinery utilization has contributed to slower movement in gas price increases,” said Montrae Waiters, spokeswoman, AAA – The Auto Club Group. “In the week ahead Georgians may see slight fluctuation at the pump. However, large jumps are not likely to occur.”
NATIONAL AVERAGE DECREASES FOR FIRST TIME THIS MONTH
Since last Monday, the national average for a gallon of regular gasoline has decreased by 2 cents to $2.86. Growing stock levels have helped to put downward pressure on pump prices, increasing slightly from 232.1 million barrels to 232.3 million barrels last week, according to the latest weekly report from the Energy Information Administration (EIA). The national average decreased despite rising gas demand, which increased from 8.44 million barrels a day to 8.62 million barrels a day last week.
OIL MARKET DYNAMICS
At the close of last Thursday’s formal trading session, WTI decreased by $2.62 to settle at $58.56. Crude prices have decreased due to continuing market concern that crude demand will drop as Europe increases restrictions to curb growing coronavirus infection rates. The decrease in crude prices has also been supported by EIA reporting that total domestic crude inventories increased by 1.9 million barrels to 502.7 million barrels.
- Most expensive Georgia metro markets – Hinesville-Fort Stewart ($2.79), Savannah ($2.78), and Brunswick ($2.77).
- Least expensive Georgia metro markets – Catoosa-Dade-Walker ($2.66), Albany ($2.67), and Dalton ($2.68).
CURRENT AND PAST PRICE AVERAGES (Regular Unleaded Gasoline)
|Sunday||Saturday||Week Ago||Month Ago||One Year Ago||2020Low||2020High||Record High|
|National||$2.86||$2.86||$2.88||$2.71||$2.03||$1.76 (April)||$2.59 (January)||$4.11 (7/17/2008)|
|Georgia||$2.72||$2.72||$2.74||$2.57||$1.86||$1.61 (May)||$2.46 (January)||$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
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.