ATLANTA – Georgia’s regular unleaded gasoline prices have increased at the pump to 12 cents compared to a week ago.
Georgia gas price average increased at the pump compared to a week ago. Georgia drivers are now paying an average price of $3.26 per gallon for regular unleaded gasoline (subject to change overnight). Monday’s state average is 12 cents more than a week ago, 1 cent more than a month ago, and $1.03 less than this time last year. It now costs $48.90 to fill a 15-gallon tank of regular gasoline. Drivers are now paying $1.00 less to fill up at the pump compared to a year ago.
“Georgians experienced unwelcomed spikes at the pumps this weekend,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “Less expensive oil and fewer people fueling usually indicates lower pump prices. However, there is some upward pricing pressure now due to the switch to summer blend gasoline, which may add about five to ten cents per gallon. But if demand and oil costs remain low, this recent price bounce may fade.”
Gas Prices Surge Higher, but for How Long?
Since last Monday, the national average for a gallon of regular gasoline has increased by 7 cents to $3.47 (subject to change overnight). However, this price pop could be short-lived, as demand and the global cost of oil have fallen recently. According to data from the Energy Information Administration (EIA), gas demand declined from 9.11 million to 8.56 million barrels a day last week. Meanwhile, total domestic gasoline stocks decreased by 1.1 million barrels to 238.1 million barrels. Although gas demand has declined, fluctuating oil prices have increased pump prices amid tighter supply.
Oil Market Dynamics
At the close of Wednesday’s formal trading session, WTI decreased by 92 cents to settle at $76.66. Crude prices decreased yesterday due to weaker domestic oil demand expectations for 2023 after the Chair of the U.S. Federal Reserve indicated that additional interest rate increases are likely. The market is concerned that rising interest rates could tip the U.S. economy into a recession, which would lower oil demand amid reduced economic activity. Additionally, the EIA reported that total domestic commercial crude inventories decreased by 1.7 million barrels to 478.5 million barrels.
The most expensive Georgia metro markets – are Savannah ($3.32), Atlanta ($3.27), and Augusta-Aiken ($3.26).
The least expensive Georgia metro markets – are Athens ($3.21), Dalton ($3.20), and Catoosa-Dade-Walker ($3.19).
Current and Past Price Averages (Regular Unleaded Gasoline)
|Sunday||Saturday||Week Ago||Month Ago||One Year Ago||Record High|
|Click here to view current gasoline price averages|
Money-Saving Tips for Drivers
- Shop around for gas prices. Drivers can check area gas prices on the Fuel Price Finder.
- Consider paying in cash vs. a credit card. Some retailers charge extra per gallon for customers who pay with a credit card.
- Enroll in fuel savings programs.
Fuel-Saving Tips for Drivers
- Maintain your vehicle to ensure the best fuel economy. Find a trusted automotive facility at AAA.com/Auto Repair.
- Combine errands to limit driving time.
- Slow down. Fuel economy diminishes significantly at highway speeds above 50 mph. Drive conservatively and avoid aggressive driving. Aggressive acceleration and speeding reduce fuel economy.
Traffic Safety Tip: AAA-The Auto Club Group “Move Over For Me” Campaign
“Drivers, if you see a disabled vehicle on the roadside while traveling, be courteous and Move Over,” said Waiters. “Remember the person who broke down could be you, a friend, a family member, a coworker, or a neighbor. Move Over for the safety of others and because it is the right thing to do!”
Video: Move Over For Me PSA
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 13 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.