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Friday October 18th, 2019 4:50AM

AAA: Gas prices decline after two weeks of increases

By AccessWDUN Staff

After inching upward the past two weeks, prices at Georgia gas pumps have declined. According to the latest information from AAA-The Auto Club Group, Georgia motorists are now paying an average price of $2.54 per gallon for regular unleaded. Monday's state average is 5-cents less than a week ago, 14-cents more than this time last month, and 18-cents less than this time last year.

It now costs $38.10 to fill a 15-gallon tank of gasoline. That is $4.50 less than what motorists paid in May of 2018, when pump prices hit their peak of $2.84 per gallon.

"Although gas demand rebounded last week, growing gasoline stocks have helped to put downward pressure on pump prices after oil prices surged last week in response to attacks on two Saudi Arabian oil facilities,” said Montrae Waiters, spokeswoman for AAA. “As it appears now pump prices will likely continue to hold steady moving into this week.”

Growing Gas Stocks Contribute To Pump Prices Stabilizing

The national average price for regular unleaded gasoline is $2.65 per gallon, which is one cent less than a week ago, seven cents more than a month ago, and 22 cents less than a year ago. Pump prices are continuing to stabilize for the majority of motorists, following the release of new data from the Energy Information Administration (EIA). In its report for the week ending on September 20, EIA’s data revealed that total domestic gasoline stocks grew by 500,000 bbl to 230.2 million bbl. Imports of gasoline, which surged from 500,000 b/d to 800,000 b/d last week, helped domestic gas stocks to grow.

Regional Prices

  • Most expensive Georgia metro markets –Atlanta ($2.61), Gainesville ($2.58), and Athens ($2.58).
  • ​Least expensive Georgia metro markets – Catoosa-Dade-Walker ($2.35), Augusta-Aiken ($2.40), and Dalton ($2.41).    
  • Associated Categories: Homepage, Business News, Local/State News, Submitted News
  • Associated Tags: AAA, Gas prices, Georgia gas prices, gas prices decrease
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