Gasoline prices in Georgia remain unchanged this week, according to Monday's fuel price report from AAA-The Auto Club Group.
However, the average pump price in the Gainesville area rose by three-cents per gallon to an average of $3.23.
Motorists continue to pay an average price of $3.25 per gallon for regular unleaded gasoline. The state average is 15 cents more than last month and $1.28 more than this time last year. It now costs Georgia motorists $48.75 to fill a 15-gallon tank of gasoline, which is $11.88 more than what motorists paid in January of 2020 when pump prices hit their peak of $2.46 per gallon.
“Georgia statewide pump price averages have managed to remain stable for the past few weeks.” said Montrae Waiters, AAA spokeswoman. “Crude oil prices are still elevated, which impacts the cost of gas. Georgians can anticipate prices to remain elevated through the Thanksgiving Holiday.”
National Average Takes Step Back As Gas Demand and Supply Decline
Since last Monday, the national average for a gallon of regular gasoline has decreased by a penny to $3.41. According to data from the Energy Information Administration (EIA), total domestic gasoline stocks decreased by 1.6 million barrels to 212.7 million barrels last week. Gasoline demand also dropped from 9.5 million barrels a day to 9.26 million barrels a day. The decrease in demand has contributed to some price relief at the pump for drivers. However, pump prices will likely remain elevated as long as oil prices are above $80 per barrel.
At the close of last Thursday’s formal trading session, WTI increased by 25 cents to settle at $81.59. Although crude prices reversed course due to fluctuations in the market, crude prices declined earlier last week as inflation fears weigh on the market. Additionally, after the EIA reported that total domestic crude supply increased by 1 million barrels to 435.1 million barrels the week before, prices also fell. However, according to EIA’s data, the total domestic crude supply is still down 11 percent compared to the previous year at this time, putting elevated price pressure on crude.
Hall County - $3.23
Most expensive Georgia metro markets – Savannah ($3.32), Hinesville-Fort Stewart ($3.29), and Brunswick ($3.27).
Least expensive Georgia metro markets – Catoosa-Dade-Walker ($3.12), Warner Robins ($3.13), and Albany