AAA: GEORGIA GAS PRICES HOLD STEADY AT THE PUMP
ATLANTA, GA., (April 19, 2021) — Georgia gas prices hold steady at the pump compared to a week ago. Georgia motorists are paying an average price of $2.70 per gallon for regular unleaded gasoline. Monday’s state average is 4 cent less than a month ago, and $1.03 more than this time last year.
It now costs motorists $40.50 to fill a 15-gallon tank of gasoline; that is $3.60 more than what motorists paid in January of 2020, when pump prices hit their peak of $2.46 per gallon.
“For a second week in a row Georgia motorists saw minimal or no change at the pumps,” said Montrae Waiters, spokeswoman, AAA – The Auto Club Group. “We anticipate demand will continue to grow throughout the month as vaccinations become more widely available, which indicates gas prices may rise in the coming weeks.”
NATIONAL AVERAGE FLAT AS GAS DEMAND INCREASES
Since last Monday, the national average for a gallon of regular gasoline has increased by 1 cent to $2.87. According to new data from the Energy Information Administration (EIA), total domestic gasoline stocks increased by 300,000 barrels (bbl) to 234.9 million bbl last week. The increase helped to minimize pump price increases as demand increased from 8.78 million barrels a day to 8.94 million barrels a day. Continued growth in total domestic supply will likely help to keep pump prices in check through the weekend.
OIL MARKET DYNAMICS
At the close of last week’s formal trading session, WTI increased by 31 cents to settle at $63.46. Crude prices have increased week-over-week due to continuing market optimism that crude demand may increase more than expected due to increasing vaccine rollouts. WTI settled at $63.15/bbl on Wednesday — the first time since March 17 that the price settled at more than $62/bbl. Additionally, EIA’s weekly report revealed that total domestic crude inventory dropped by 5.9 million bbl to 492.4 million bbl last week, contributing to price increases. If crude prices continue to rise and remain high, pump prices will likely follow suit.
- Most expensive Georgia metro markets – Hinesville-Fort Stewart ($2.77), Brunswick ($2.74), and Macon ($2.72).
- Least expensive Georgia metro markets – Catoosa-Dade-Walker ($2.62), Albany ($2.64), and Gainesville ($2.65).
CURRENT AND PAST PRICE AVERAGES (Regular Unleaded Gasoline)
|Sunday||Saturday||Week Ago||Month Ago||One Year Ago||2020 Low||2020 High||Record High|
|National||$2.87||$2.87||$2.86||$2.88||$1.82||$1.76 (April)||$2.59 (January)||$4.11 (7/17/2008)|
|Georgia||$2.74||$2.70||$2.70||$2.74||$1.67||$1.61 (May)||$2.46 (January)||$4.16 (9/15/2008)|
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.
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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 62 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.