Georgia gasoline prices have steadily declined for the past two weeks. On Sunday, gas prices in Georgia averaged $2.46 per gallon for regular unleaded, according to this week's fuel price report from AAA - the Auto Club Group.
Monday's state average is 6-cents less than a week ago, 21-cents less than this time last month, and 26-cents less than this time last year.
It now costs $36.90 to fill a 15-gallon tank of gasoline. That is $5.70 less than what motorists paid last May, when pump prices hit their 2018 peak of $2.84 per gallon.
"Gas prices have been trending lower for the past several weeks,” said AAA spokeswoman Montrae Waiters. “If demand increases amid falling stock levels in the week ahead, Georgia motorists could see pump prices increase slightly ahead of Labor Day.”
Summer Price Drop Slows Down
Although pump prices have continued to fall this week, growing demand amid tightening stocks have helped to slow down the pace of the declines. New data from the Energy Information Administration (EIA) reveals demand for gasoline hit a new all-time high record at 9.93 million b/d for the week ending August 9. According to last week’s EIA the report, demand grew by nearly 300,000 b/d to hit the highest level recorded by EIA since it began recording the data in 1991. In comparison to last year at this time, the latest demand rate is approximately 400,000 b/d higher. The high demand level contributed to total domestic stocks falling by 1.4 million bbl to 233.8 million bbl.
- Most expensive Georgia metro markets –Atlanta-Macon ($2.51), Hinesville-Fort Stewart ($2.50) and Savannah ($2.47).
- Least expensive Georgia metro markets – Catoosa-Dade-Walker ($2.27), Dalton ($2.30) and Augusta-Aiken ($2.33).
- The average price in Hall County this week is $2.44 per gallon.