Gasoline prices in Georgia declined at the pump compared to a week ago. According to this week's fuel price report from AAA-The Auto Club South, Georgia motorists are now paying an average price of $2.39 per gallon for regular unleaded gasoline. Monday's state average is 3-cents less than a week ago, 3-cents less than last month, but 21-cents more than this time last year.
It now costs $35.85 to fill a 15-gallon tank of gasoline. That is $6.75 less than what motorists paid in May of 2018, when pump prices hit their peak of $2.84 per gallon.
"As stocks continue to grow, while demand decreases, pump prices across the nation are likely to continue seeing downward pressure through this week,” said AAA spokeswoman Montrae Waiters in the agency's weekly report. "This trend is creating cheaper gas prices for the majority of motorists.”
Late last week, AAA released travel predictions for the 2019 Christmas holiday, and the agency believes about 3.4 million Georgians will take a trip of 50 miles or more for the holiday. AAA said the majority of those people will be traveling by vehicle.
Increased Stocks and Lower Demand Help to Push Prices Lower
The national average price for regular unleaded gasoline is $2.55 per gallon, which is 2 cents less than last week, 5 cents less than month ago, and 17 cents more than a year ago. The year-over-year difference is due to higher crude prices this winter over last. Total domestic gasoline stocks increased for the fifth consecutive week, according to new data from the Energy Information Administration (EIA). Stocks increased by 5.4 million barrels last week, bringing the total to 234.8 million barrels. Additionally, gas demand decreased from 9.03 million barrels to 8.88 million barrels.
Regional Prices
- Most expensive Georgia metro markets – Savannah ($2.44), Hinesville-Fort Stewart ($2.42), and Atlanta ($2.41).
- Least expensive Georgia metro markets – Catoosa-Dade-Walker ($2.29), Dalton –Rome ($2.30) and Augusta-Aiken ($2.32).
- Hall County motorists are paying an average price of $2.38.
