Gas prices in Georgia hold steady this week and declined only a fraction of a penny over the weekend, averaging on Sunday $2.23 which was the same as last week.
The most expensive gas price was in Atlanta with a gallon of regular unleaded costing $2.28. The Augusta-Aiken area continues to have the lowest gas price at $2.12 a gallon.
"Pump prices are moving slightly lower as refineries keep the market well supplied with gasoline," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "Gasoline supplies are outpacing demand as we enter the final weeks of the summer travel season. This should prevent any major gains in gas prices, unless oil prices rise in response to unexpected disruptions in supply due to international conflict, refinery issues, or a hurricane."
Gasoline demand is on par with this time of year last year, however supply levels are up two percent. Refiners are running at record highs thanks to favorable profit margins. As a result, gasoline inventories swelled and crude stocks dropped, according to the most recent supply report from the EIA for the week of August 4. Commercial crude oil supplies slipped for the 5th consecutive week, hitting the lowest level since October.
The price for a barrel of WTU crude oil averaged $49.11, 40 cents less than the week before.
A slight difference between fuel price reporting company GasBuddy remains at about 4 cents, with GasBuddy.com reporting a drop of 0.4 cents, and a state average of $2.19.
Here in Gainesville gasoline prices have hoovered around $2.75 for a gallon of regular.
**AccessWDUN's Scott Kimbler contributed to this story**
