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Friday August 14th, 2020 7:33AM

AAA: Georgia gas prices drop a penny as demand remains low

By AccessWDUN Staff

With demand lower than normal, Georgia gasoline prices declined slightly at the pump compared to a week ago. In its weekly fuel price report, AAA-The Auto club South said Georgia motorists are now paying an average price of $2 per gallon for regular unleaded gasoline. Monday's state average is one penny less than a week ago, 2-cents more than last month, and 62-cents less than this time last year.

It now costs motorists $30 to fill a 15-gallon tank of gasoline; that is $11.10 less than what motorists paid in April of 2019 when pump prices hit their peak of $2.74 per gallon.

“Decreasing demand for gasoline contributed to the drop in pump prices this week,” said Montrae Waiters, spokeswoman for AAA. “If demand continues to drop, pump prices could push cheaper in the coming week.”

Low Demand Pulls National Average Lower

Since last Monday, the national average for a gallon of regular gasoline has decreased by a penny to $2.18. In the new report from the Energy Information Administration (EIA), gas demand fell from 8.65 million barrels a day to 8.55 million barrels a day last week.

At the close of Thursday’s formal trading session, WTI decreased by 83 cents to settle at $41.07. Domestic crude prices decreased after EIA’s weekly report revealed that total domestic inventories increased by 4.9 million barrels. The increase, amid falling gasoline demand, could mean that the domestic crude market is oversupplied, which led crude prices to fall and they could see more decreases if crude supplies continue to increase.

Regional Prices

Atlanta ($1.98)

  • Most expensive Georgia metro markets – Hinesville-Fort Stewart ($2.10), Brunswick ($2.08) and Savannah ($2.07).
  • Least expensive Georgia metro markets – Catoosa-Dade-Walker ($1.90), Rome ($1.94) and Athens ($1.97). 
  • Hall County prices are also among the lowest in the state at $1.94.
  • Associated Categories: Homepage, Business News, Local/State News, Submitted News
  • Associated Tags: AAA, Gas prices, Georgia gas prices, weekly fuel price report
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