ATLANTA, GA., (August 2, 2021) — Georgia gas prices hold steady at the pump compared to a week ago. Georgia motorists are now paying an average price of $2.96 per gallon for regular unleaded gasoline.
It now costs motorists $44.40 to fill a 15-gallon tank of gasoline; that is $7.50 more than what motorists paid in January of 2020 when pump prices hit their peak of $2.46 per gallon.
“While it is typical to see gas prices increase during the summer months, Georgia pump prices continue to trend under $3 per gallon,” said Montrae Waiters, spokeswoman AAA-The Auto Club Group.
NATIONAL AVERAGE STABILIZES AS GAS DEMAND REMAINS LOW
Since Monday, the national average for a gallon of regular gasoline has increased by a penny to $3.17. In its latest weekly report, the Energy Information Administration (EIA) reported that gas demand increased nominally from 9.30 million barrels a day to 9.33 million barrels a day last week. Additionally, total domestic gas stocks declined by 2.3 million barrels to 234.2 million barrels. These trends have helped to stabilize price increases; however, crude oil prices continue to remain above $70 per barrel. As crude prices remain high, AAA expects the national average to remain above $3 per gallon throughout the summer.
OIL MARKET DYNAMICS
At the close of last Thursday’s formal trading session, WTI increased by $1.23 to settle at $73.62. A weaker dollar has helped to push prices up today, while market concerns surrounding demand recovery continue to grow. Crude prices were also bolstered after EIA’s latest report showed that total domestic crude stocks declined by 4.1 million barrels to 435.6 million barrels last week.
- Most expensive Georgia metro markets – Savannah ($3.04), Hinesville-Fort Stewart ($3.03), and Atlanta ($2.98).
- Least expensive Georgia metro markets – Catoosa-Dade-Walker ($2.87), Rome ($2.90), and Columbus ($2.91).
CURRENT AND PAST PRICE AVERAGES (Regular Unleaded Gasoline)
|Sunday||Saturday||Week Ago||Month Ago||One Year Ago||2020Low||2020High||Record High|
|National||$3.17||$3.17||$3.15||$3.12||$2.18||$1.76 (April)||$2.59 (January)||$4.11 (7/17/2008)|
|Georgia||$2.96||$2.96||$2.96||$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.