Gas prices in Georgia hit a new record high with Monday morning’s average of $4.48 for a gallon of regular unleaded. According to the weekly Triple-A gas report released Monday morning, gas jumped up 21 cents in just a week. That’s 54 cents more than last month, and $1.57 more than this time last year.
Dawson and Lumpkin Counties both have some of the highest gas prices in the entire state at $4.58 on average.
Prior to the new record high, the previous high for Georgia was set in September 2008 at $4.16 per gallon.
“Demand for gasoline continues to grow, and crude oil supply remains tight. This is an indication that consumers may continue to face higher prices at the pump for the remainder of the summer,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “It may be a good idea for Georgians to start setting aside some money now for upcoming road travel.”
Since last Monday, the national average for a gallon of regular gasoline has increased by 17 cents to $5.01. Prior to 2022, the record high nationally was $4.11 per gallon in July 2008.
According to data from the Energy Information Administration (EIA), total domestic gasoline stocks decreased by 800,000 barrels to 218.2 million barrels last week. Meanwhile, gasoline demand grew from 8.98 million barrels a day to 9.2 million barrels a day as drivers continue to fuel up for the summer driving season, typically a time when gas demand increases. AAA says that this dynamic between decreased supply and increased demand is contributing to rising prices at the pump.
