Saturday July 11th, 2020 11:03PM

Georgia gas prices rise to $1.79 a gallon, up 4-cents

By AccessWDUN Staff

AAA said Georgia gasoline prices continue to rise, up to $1.79 a gallon in its latest fuel price report released Monday morning. 

Monday's state average is 4-cents more than a week ago, 17-cents more than last month, and 75-cents less than this time last year.

It now costs motorists $26.85 to fill a 15-gallon tank of gasoline; that is $14.25 less than what motorists paid in April of 2019, when pump prices hit their peak of $2.74 per gallon.

"All South and Southeast states saw pump prices increase,” said Montrae Waiters, spokeswoman for AAA – The Auto Club Group. “The good news is that gas continues to be fairly cheap. Georgians can fill-up for $2/gallon or less at gas stations across the state.”

National Gas Average Increases Alongside Demand

Since last Monday, the national average for a gallon of regular gasoline is $2.02, which is 5 cents higher than a week ago. According to new data from the Energy Information Administration (EIA), demand grew slightly from 7.3 million barrels a day to 7.5 million barrels a day last week. The increase in demand has occurred alongside an increase in the national average. If this trend continues, motorists will likely see pump prices continue to move higher.

At the close of last Thursday’s formal trading session, WTI increased by 12 cents to $37.41 per barrel. Domestic crude prices have been volatile as the market awaits a potential announcement from the Organization of the Petroleum Exporting Countries (OPEC) on additional steps to reduce crude production amid the COVID-19 pandemic, which has lowered global crude demand. OPEC and other large crude producers, including Russia, are implementing a 9.7 million barrels a day crude production reduction agreement for May and June 2020, but the future of the agreement is uncertain. As market uncertainty over the agreement increases, crude prices will likely remain volatile.

Regional Prices

Atlanta ($1.76)

  • Most expensive Georgia metro markets – Brunswick ($1.91), Savannah ($1.88) and Valdosta ($1.87).
  • Least expensive Georgia metro markets – Athens ($1.73), Rome ($1.74) and Catoosa-Dade-Walker ($1.75). 
  • The average price in Hall County is $1.73, with several surrounding counties having lower prices than that. 
  • Associated Categories: Homepage, Business News, Local/State News, Submitted News
  • Associated Tags: AAA, Gas prices, gas prices increase, weekly fuel price report
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