Georgia gasoline prices decreased at the pump just a bit compared to a week ago. According to this week's fuel price report from AAA, Georgia motorists are now paying an average price of $2.02 per gallon for regular unleaded gasoline. Monday's state average is 2-cents less than a week ago but 6-cents more than last month. The statewide price is 39-cents less than this time last year.
“Georgia gas prices are drifting lower across the state,” said Montrae Waiters, spokeswoman, AAA – The Auto Club Group. “Lower demand has helped pump prices to decline this week, the descent will likely continue as summer fades to fall.”
NATIONAL AVERAGE DROPS ALONGSIDE DEMAND
Since last Monday, the national average for a gallon of regular gasoline has decreased by 3-cents to $2.19. In the new weekly report from the Energy Information Administration (EIA), gas demand decreased again from 8.79 million barrels a day to 8.39 million barrels a day.
At the close of last Thursday’s formal trading session, WTI decreased by 75 cents to settle at $37.30. Domestic crude prices decreased after EIA’s weekly report revealed that total domestic crude inventories increased by 2 million barrels last week, increasing total stocks to 500.4 million barrels. Increasing stocks could signal that crude demand is starting to decline, while production increased by 300,000 barrels a day last week to 10 million barrels a day. Crude prices may continue to drop if production does not rebalance to meet lower demand ahead of fall, which typically sees fewer drivers hitting the roads for trips due to colder weather.
- Most expensive Georgia metro markets – Brunswick ($2.11), Savannah ($2.10) and Hinesville-Fort Stewart ($2.08).
- Least expensive Georgia metro markets – Catoosa-Dade-Walker ($1.92), Columbus ($1.95) and Gainesville ($1.96).