//AAA: Georgia gas prices relatively unchanged with slight decrease

AAA: Georgia gas prices relatively unchanged with slight decrease

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Georgia gas prices decreased at the pump compared to a week ago. Georgia motorists are now paying an average price of $2.97 per gallon for regular unleaded gasoline. Monday’s state average is 1 cent less than a week ago, 1 cent more than last month and 95 cents more than this time last year.

It now costs motorists $44.55 to fill a 15-gallon tank of gasoline; that is $7.65 more than what motorists paid in January of 2020 when pump prices hit their peak of $2.46 per gallon.

“Georgians may notice pump prices falling slowly as we approach the fall season,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “Tropical storm Ida appears to have had minimal impact on Georgia gas prices, however, there is a slight possibility gas prices could fluctuate over the next few weeks.”

NATIONAL AVERAGE STEADIES AS SOME STATES SEE FLUCTUATIONS IN WAKE OF IDA:

The national gas price average is $3.17. New data from the Energy Information Administration shows that gas demand increased slightly from 9.58 million barrels a day to 9.61 million barrels a day last week — a healthy reading for the Labor Day weekend. Meanwhile, total domestic stocks took a major step back by 7.2 million barrels to 220 million barrels. Refinery utilization was down almost 10% to 81.9%, as refineries impacted by Ida continue to progress in their recovery efforts. With demand increasing and supplies tightening, some states have seen prices fluctuate, with some up by four cents and others lower by 3 cents. Oil prices remain high (near $70 per barrel), the national average is expected to stay above $3 per gallon.

OIL MARKET DYNAMICS:

At the close of last Thursday’s formal trading session, WTI decreased by $1.16 to settle at $68.14. Although crude prices declined amid reports of China tapping its strategic oil reserves to reduce prices, crude prices remain elevated as approximately 77% of crude oil production in the Gulf Coast region is shuttered due to Hurricane Ida, according to the federal Bureau of Safety and Environmental Enforcement. Once the damage is assessed, production will gradually return to normal operations and stabilize prices as supply increases.

REGIONAL PRICES:

Atlanta- $2.98

Most expensive Georgia metro markets – Savannah ($3.06), Hinesville-Fort Stewart ($3.04), and Brunswick ($3.02).

Least expensive Georgia metro markets – Catoosa-Dade-Walker ($2.86), Dalton ($2.88), and Rome ($2.89). 

CURRENT AND PAST PRICE AVERAGES (Regular Unleaded Gasoline)   

SundaySaturdayWeek AgoMonth AgoOne Year Ago2020 Low2020 HighRecord High
National$3.17 $3.17 $3.18 $3.18 $2.19 $1.76 (April)$2.59 (January)$4.11   (7/17/2008)
Georgia$2.97 $2.97 $2.98 $2.96 $2.02$1.61 (May)$2.46 (January)$4.16   (9/15/2008)
Click here to view current gasoline price averages
Caption: Current and Past Gasoline (Regular Unleaded) Price Averages Table

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 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.