There’s good news for Georgia drivers as gas prices just keep dropping across the state. Although according to the weekly AAA gas report released Monday morning, that may not continue to be the trend as crude oil prices are back on the rise.
The report shows that prices have dropped another 8 cents in a week. The new state average is $3.17 as of Monday morning. That’s 30 cents less than a month ago and 20 cents more than this time last year.
The report says that this means drivers are paying almost 5 dollars less to fill up at the pump compared to a month ago. It now costs $47.70 to fill a 15-gallon tank of regular gasoline.
The report lists Gainesville as having some of the least expensive gas in the state. Hall County’s average is $2.97. Dawson County also has gas prices that are comparable at $2.96 on average. The most expensive gas in the state can be found in Savannah at $3.29 and Atlanta at $3.24.
Gas has been dropping since it reached its peak in mid-June at $4.49. AAA says that dropping prices have been the direct result of crude oil prices. “As the cost of living continues to increase across the United States, pump prices in Georgia are on the decline,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “Less expensive crude oil prices customarily lead to cheaper gas prices. This trend has helped pump prices fall steadily for months. However, we have seen oil prices inching back up, which could impact the future of pump prices.”
According to data from the Energy Information Administration (EIA), gas demand decreased from 8.73 million barrels a day to 8.49 million barrels a day last week. Moreover, total domestic gasoline stocks declined by 1.8 million barrels to 213 million barrels. Although gasoline demand has decreased, fluctuating oil prices have led to smaller pump price decreases. If oil prices continue to rise, the national average will likely reverse as pump prices increase.
Since last Monday, the national average for a gallon of regular gasoline has decreased by 4 cents to $3.67.
