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Wednesday July 15th, 2020 4:19AM

Gas prices drop slightly both in Georgia and the U.S.

By Alyson Shields Reporter

Shoppers digging for discounts in Georgia area may see lower prices at the pumps this week while they travel to and from shopping centers, with prices falling about two cents per gallon this past week.

Gasoline price tracking companies AAA and GasBuddy.com both agree that prices are down this December, with an average price hovering between $2.29 and $2.33 per gallon.

"Seasonal trends like reduced gasoline demand and increased fuel supply are allowing pump prices to keep moving lower," said Mark Jenkins, spokesman for AAA. "The first half of December is normally characterized by weak demand, as cold weather and shorter days cause Americans to drive less. Look for another week of declines as refineries continue to produce gasoline at a much higher rate than what is being consumed."

GasBuddy's Head of Petroleum Analysis Patrick DeHaan said prices moved much lower this past week in almost the entire country. "Thank a large build in gasoline inventories and gasoline demand numbers that have finally seen a reprieve from levels that were more consistent with summer months than autumn. With OPEC extending its oil production cuts, there is solid evidence that U.S. oil producers will fill in at least some of the void with rig counts remaining strong. As the focus continues to broaden beyond the rest of the year, motorists who found this year's gas prices high may want to begin setting aside some additional funds for next year as all signs continue to point to higher prices than this year."

According to GasBuddy historical data, holiday shopping bargains aren't the only thing to range wildly over the past few years. On December 11, 2016, prices touched $2.18, but were $1.94 in 2015 and $3.23 in 2012.

AAA reports prices are down eight cents from a month ago, but are 14 cents higher from last year.

The most expensive prices were Savannah ($2.37) and Atlanta ($2.33) and the least expensive prices were in Augusta ($2.24), Dalton and Warner Robins (both at $2.23.)

  • Associated Categories: Business News, Local/State News
  • Associated Tags: AAA, Gas prices, GasBuddy
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Gas prices drop slightly both in Georgia and the U.S.
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