Gasoline prices across the state are holding steady again this week. Georgia motorists continue to pay an average price of $2.97 per gallon for regular unleaded gasoline.
According to this week's report from AAA-The Auto Club Group, it now costs motorists $44.55 to fill a 15-gallon tank of gasoline, which is $7.65 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 with AAA. "The impact of both hurricanes and the latest increases in crude prices may spell fluctuation at the pump for motorists later this month.”
NATIONAL AVERAGE INCREASES FOLLOWING IMPACTS FROM HURRICANES
Since Monday, the national average for a gallon of regular gasoline has increased two cents to $3.19, tying early August peaks and matching a 7-year-high. Much of the rise is due to impacts from Hurricanes Ida and Nicholas on oil and refinery production. Approximately 30% of crude production in the Gulf of Mexico remains shuttered, according to the U.S. Bureau of Safety and Environmental Enforcement. Reduced crude production combined with gradual refinery restarts has led to a drop in percent of crude utilization nationwide by just over 9% to 82.1%, according to the most recent weekly report from the Energy Information Administration (EIA), when compared to the last week of August — a few weeks before the storms impacted the market. Meanwhile, total domestic stocks took another step back by 2 million barrels to 218 million barrels. As the recovery process continues, reduced crude production and refining capacity will likely cause prices to fluctuate through the week. Some states have already seen a 9 cent jump over last week, while others dropped by 3 cents.
Most expensive Georgia metro markets – Brunswick ($3.07), Hinesville-Fort Stewart ($3.03), and Valdosta ($2.98).
Least expensive Georgia metro markets – Dalton ($2.87), Rome ($2.90), and Gainesville ($2.92).