Sunday October 1st, 2023 7:03AM

AAA: Georgia gas prices drop two cents in the last week

By AccessWDUN Staff

AAA-The Auto Club South reports Georgia gasoline prices decreased slightly compared to this time a week ago. Georgia motorists are now paying an average price of $3.22 per gallon for regular unleaded gasoline. Monday's state average is two cents less than a week ago and three cents less than last month, but the price is $1.26 more than this time last year.

"Crude oil prices fell slightly, which points to Georgians seeing some relief at the pumps across the state. The price of oil accounts for about 50%–60% of what consumers pay at the pump, so a lower oil price usually translates into better gasoline prices for drivers,” said AAA spokeswoman Montrae Waiters.

National Gas Price Average

Since last Monday, the national average for a gallon of regular gasoline has decreased by a penny to $3.39. According to data from the Energy Information Administration (EIA), total domestic gasoline stocks declined slightly by 600,000 barrels to 211.4 million barrels last week. On the other hand, gasoline demand increased from 9.24 million barrels a day to 9.33 million barrels a day. Typically, growing demand and tight supply would support rising pump prices, but recent fluctuations in the price of crude oil have helped to stabilize and put downward pressure on prices. However, as long as the price of oil is near $80 per barrel, drivers should expect pump prices to remain elevated.

President Biden announced that the federal government will make available up to 32 million barrels of oil held in the U.S. Strategic Petroleum Reserve (SPR) and accelerate the timeline for a sale of an additional 18 million barrels of SPR oil, as mandated by Congress. However, how much of a price impact and how long the price relief will last depend on the total amount of oil that moves into the market after the coordinated releases around the globe. As a result, drivers could see some price relief at the pump over the coming weeks, but they should expect prices to remain higher than last year’s holiday season and in 2019.

How To Save Money At The Pump

  • Use gas apps to find cheaper prices
  • Pay with cash or credit cash rewards
  • Skip the premium gas if your vehicle allows

Regional Prices

Atlanta- $3.24

Hall County - $3.19

Most expensive Georgia metro markets – Savannah ($3.29), Brunswick ($3.28), and Hinesville-Fort Steward ($3.26).

Least expensive Georgia metro markets – Catoosa-Dade-Walker ($3.09), Warner Robins ($3.12), and Dalton ($3.14). 

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  • Associated Tags: AAA, Georgia gas prices, weekly fuel price report, gas prices decrease
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