Georgia gasoline prices jumped seven cents in the last week, according to this week's fuel price report from AAA-The Auto Club Group.
Georgia motorists are now paying an average price of $2.23 per gallon for regular unleaded gasoline. Monday's state average is 20 cents more than last month but still lower than this time last year by 18 cents per gallon.
It now costs motorists $33.45 to fill a 15-gallon tank of gasoline, which is $3.45 less than what motorists paid in January of 2020, when pump prices hit their peak of $2.46 per gallon.
"Gas prices are rising as supply tightens and crude oil gets more expensive,” said Montrae Waiters, spokeswoman for AAA. “If crude prices continue to sustain prices above $50 per barrel alongside higher refinery utilization rates and demand, drivers could see pump prices continue to climb through the week.”
NATIONAL AVERAGE RISES AS CRUDE PRICES REMAIN HIGH AND UTILIZATION AND DEMAND INCREASE
Since Monday, the national average for a gallon of regular gasoline has increased by 7 cents to $2.38. Pump prices have increased while gas demand remains low at 7.53 million barrels a day and total refinery utilization increased from 80.7 percent to 82 percent in the latest weekly report from the Energy Information Administration (EIA).
At the close of last Thursday’s formal trading session, WTI increased by 66 cents to settle at $53.57. Crude prices continue to increase this week due to market optimism that coronavirus vaccines will help crude demand recover this year. Additionally, EIA’s new weekly report helped bolster prices, detailing that total domestic crude inventories declined by 3.2 million barrels to 482.2 million barrels last week.
REGIONAL PRICES
Atlanta ($2.22)
- Most expensive Georgia metro markets – Hinesville-Fort Stewart ($2.30), Savannah ($2.29), and Albany ($2.28).
- Least expensive Georgia metro markets – Catoosa-Dade-Walker ($2.17), Dalton ($2.18), and Athens ($2.20).
- The average price in Hall, Forsyth and Gwinnett counties is $2.18, while White County continues to have the highest price in the region at $2.25.
