Georgia gasoline prices continue to edge downward, according to this week's fuel price report from AAA-The Auto Club South, and Gainesville metro prices are some of the lowest in the state.
Statewide, the average is $1.99 a gallon regular unleaded gasoline. Monday's state average is 3-cents less than a week ago but one penny more than last month; it's 60-cents less than this time last year.
"Georgians continue to see cost savings at the pump,” said Montrae Waiters, spokeswoman for AAA. “Lower demand has aided gas prices to decline, which will likely last into fall.”
It now costs motorists $29.85 to fill a 15-gallon tank of gasoline, which is $11.25 less than what motorists paid in April of 2019, when pump prices hit their peak of $2.74 per gallon.
LOW GAS DEMAND CONTRIBUTES TO DECREASE IN NATIONAL AVERAGE
Since last Monday, the national average for a gallon of regular gasoline has decreased by 1 cent to $2.18. In the new weekly report from the Energy Information Administration (EIA), gas demand saw a slight uptick from 8.39 million barrels a day to 8.48 million barrels a day. However, demand is still 461,000 barrels a day lower than where it was at this time last year. Low demand will likely help pump prices to continue their descent as fall approaches.
At the close of last Thursday’s formal trading session, WTI decreased by 86 cents to settle at $41.02. Domestic crude prices decreased after EIA’s weekly report revealed that total domestic crude inventories decreased by 4.4 million barrels last week to 496 million barrels. Decreasing stocks could signal that supply and demand are beginning to rebalance, even as crude production grew by 900,000 barrels a day last week to 10.9 million barrels a day. Crude prices may continue to increase if supplies grow tighter, but demand challenges could contain potential growth in prices.
- Most expensive Georgia metro markets – Savannah ($2.08), Brunswick ($2.07) and Hinesville-Fort Stewart ($2.04).
- Least expensive Georgia metro markets – Columbus ($1.90), Catoosa-Dade-Walker ($1.91) and Gainesville ($1.94).
- Other prices in the North Georgia region - Banks County ($2.00), Dawson County ($1.99), Habersham County ($1.96) and Gwinnett County ($1.94).