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Tuesday December 1st, 2020 7:21PM

AAA: Gas prices drop again over the last week

By AccessWDUN Staff

Georgia gas prices continue a downward trend. According to this week's fuel price report from AAA-The Auto Club Group, the price per gallon dropped 4-cents last week in Georgia, and Georgia motorists are now paying an average price of $2.57 per gallon for regular unleaded. Monday's state average is one penny less than this time last month, and 20-cents less than this time last year.

It now costs $38.55 to fill a 15-gallon tank of gasoline. That is $4.05 less than what motorists paid last May, when pump prices hit their 2018 peak of $2.84 per gallon.

"These less expensive gas prices are a welcome relief at the pump,” said AAA spokeswoman Montrae Waiters in a press statement. “Right now, gas prices are poised to push even cheaper going into the first full week of August.” 

Falling Gas Demand Contributes to Declining Pump Prices

New data from the Energy Information Administration revealed that demand dropped last week, landing at 9.55 million b/d. The rate is approximately 100,000 b/d less than the previous week and 300,000 b/d less than last year at this time. Total domestic stocks of gasoline also fell last week. They hit 230.7 million bbl after the total refinery utilization rate fell slightly to 93 percent, which is 2 percent lower than last summer at this time. If demand remains low, pump prices will likely continue to see modest decreases moving into this week.

Regional Prices

  • Georgia most expensive metro markets –Atlanta ($2.63), Macon ($2.61), and Hinesville-Fort Stewart ($2.58).
  • Georgia least expensive metro markets – Catoosa-Dade-Walker ($2.41), Columbus ($2.45) and Albany ($2.47). 
  • Hall County's average gas price is $2.53.                                      

                                    

Gas Price Survey Methodology

AAA updates fuel price averages daily at www.GasPrices.AAA.comEvery 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.

  • Associated Categories: Local/State News
  • Associated Tags: AAA, Gas prices, weekly fuel price report, gas prices decrease
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