Georgia gas prices increased at the pump compared to a week ago, according to this week's fuel price report from AAA.
The auto club said motorists in the state are now paying an average price of $2.04 per gallon for regular unleaded gasoline. Monday's state average is four cents more than a week ago, nine cents more than last month, and 34 cents less than this time last year.
Georgia motorists will now pay $30.60 to fill a 15-gallon tank of gasoline, which is $10.50 less than what motorists paid in April of 2019 when pump prices hit their peak of $2.74 per gallon.
"Gas prices have increased this week, however, pump prices will still remain relatively low compared to this time last year," said Montrae Waiters, spokeswoman for AAA – The Auto Club Group.
OIL MARKETS DYNAMICS
Since Monday, the national average for a gallon of regular gasoline has increased by 5 cents to $2.21. At the close of last Thursday’s formal trading session, WTI increased by 54 cents to settle at $48.36 — about two dollars more than the price at the end of last week. Crude prices rose due to a weak dollar and increasing investment based on market optimism that coronavirus vaccines will help crude oil demand recover in 2021. Higher crude prices have also helped to lift pump prices, since the price of oil makes up over half of the cost of gasoline. Continued positive news about the vaccines will continue helping the domestic price of crude rise.
- Most expensive Georgia metro markets – Brunswick, ($2.18), Savannah ($2.12), and Hinesville-Fort Stewart ($2.11).
- Least expensive Georgia metro markets – Rome ($1.97), Gainesville ($1.98), and Catoosa-Dade-Walker ($1.99).