ATLANTA, Ga., (July 12, 2021) — Georgia gas prices increased at the pump compared to a week ago. Georgia motorists are paying an average price of $2.93 per gallon for regular unleaded gasoline. Monday’s state average is 2 cents higher than a week ago, 2 cents higher than last month and 94 cents more than this time last year.
It costs Georgia motorists $43.95 to fill a 15-gallon tank of gasoline; that is $7.05 more than what motorists paid in January of 2020 when pump prices hit their peak of $2.46 per gallon.
“Georgians have seen prices hold steady at the pump for the past few weeks,” said Garrett Townsend, AAA-The Auto Club Group Public Affairs Director. “However, motorists can expect increases at the pump through the end of the month as peak driving season continues and demand grows.”
ALL-TIME HIGH GAS DEMAND CONTRIBUTES TO INCREASE IN NATIONAL AVERAGE
Since last Monday, the national average for a gallon of regular gasoline has increased by a penny to $3.14. In its latest weekly report, new data from the Energy Information Administration (EIA) showed gas demand jumped from 9.17 million barrels a day to 10.04 million barrels a day last week. The estimated rate, which will likely be revised in a few months after verified data is available, is the highest weekly gas demand estimate released by EIA since 1991 and only reflects one day of the Independence Day holiday weekend. Higher demand and a 6.1 million barrel decline in total gas stocks last week have pushed pump prices higher. If these trends continue, while the price of crude remains above $70 per barrel, American drivers can expect gas prices to continue climbing during the busy summer driving season.
OIL MARKET DYNAMICS
At the close of last Thursday’s formal trading session, WTI increased by 74 cents to settle at $72.94. Crude prices declined earlier in the week due to a stronger dollar and market concerns about excess crude supply. However, prices reversed course following the release of EIA’s report that showed total domestic crude inventories decreased by 6.9 million barrels to 445.5 million barrels last week.
- Most expensive Georgia metro markets – Savannah ($3.01), Brunswick ($2.99), and Atlanta ($2.94).
- Least expensive Georgia metro markets – Catoosa-Dade-Walker ($2.83), Warner Robins ($2.87), and Gainesville ($2.89).
CURRENT AND PAST PRICE AVERAGES (Regular Unleaded Gasoline)
|Sunday||Saturday||Week Ago||Month Ago||One Year Ago||2020Low||2020High||Record High|
|National||$3.14||$3.14||$3.13||$3.07||$2.19||$1.76 (April)||$2.59 (January)||$4.11 (7/17/2008)|
|Georgia||$2.93||$2.93||$2.91||$2.91||$1.99||$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.
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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.