Thursday April 18th, 2024 3:16PM

Gas prices decline, demand up for solar eclipse in path of totality

Gas prices in Georgia are bucking the trend and declining ahead of the fall season. 

Traditionally, prices rise in the second half of August. Prices declined a total of two cents, according to AAA's weekly fuel price report, down to $2.21.

"Robust fuel supplies pushed retail prices lower last week, but this downward trend may not last much longer" said Mark Jenkins, spokesman. "Gas prices will face upward pressure this week due to a series of refinery issues in the Gulf Coast. Popular markets for the solar eclipse may also see higher pump prices, due to increased demand in the area, which could leave some gas stations low on fuel."

Meanwhile, fuel price tracking website GasBuddy.com reported prices were only down a penny to $2.18

The most expensive gas prices remain in Atlanta with commuters paying $2.25 a gallon, AAA reports. GasBuddy agreed that Atlanta was the priciest at the pump, with average prices at  In our area, Athens topped the list with gas at $2.19 a gallon.

Augusta-Aiken remains the lowest with $2.08, according to GasBuddy. AAA, while four cents higher at $2.12, was also the lowest reported price.

Both agencies agreed, Monday's solar eclipse will impact gasoline demand in parts of Georgia that fall in the path of totality. AAA said that could lead to shortages and higher prices.

"While the sun may be fading away briefly today, the sun is certainly not setting on the impressive demand for gasoline we've seen thus far this summer," said Patrick DeHaan, senior petroleum analyst for GasBuddy. "There has been nearly insatiable demand for gasoline ahead of today's eclipse. So much so that some motorists in rural eclipse viewing areas may find filling their tanks more challenging as stations struggle to keep fuel in their underground tanks. But the good news is that the bulk of the motoring public is seeing gas prices drift lower as oil prices have slipped."

And, AAA reminded drivers to be careful if they're driving during the eclipse. "AAA discourages motorists from watching the solar eclipse while driving," Jenkins said. "Motorists should realize other drivers may be attempting to watch the eclipse and drive at the same time. To help prevent trouble, reduce your speed and keep additional space between you and other vehicles.The better option is to find a safe place to park, and then observe the eclipse."

As for the other factors that affect prices at the pump, crude oil prices have settled at $48.51 a barrel, 31 cents less than a week ago. And, domestic crude oil production is the highest its been in two years.

Despite the eclipse, overall gasoline demand has hit a two month low, roughly 2.9% down from last week.

  • Associated Categories: Local/State News
  • Associated Tags: AAA, Gas prices, solar eclipse, GasBuddy
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