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AAA: Gas prices continue summer decline

By AccessWDUN Staff
Posted 5:28AM on Monday 12th August 2019 ( 1 year ago )

As we move deeper into the dog days of summer, gasoline prices in Georgia continue to decline. According to this week's report from AAA-The Auto Club Group, Georgia motorists are now paying an average price of $2.52 per gallon for regular unleaded. Monday's state average is 5-cents less than a week ago, 8-cents less than this time last month, and 23-cents less than this time last year.

It now costs $37.80 to fill a 15-gallon tank of gasoline. That is $4.80 less than what motorists paid last May, when pump prices hit their 2018 peak of $2.84 per gallon.

"Georgia pump prices are cheaper due to increasing stock levels,” said AAA spokeswoman Montrae Waiters. “Those savings are likely to increase as gas prices push less expensive moving through August.” 

Pump Prices Continue Summer Decline

In its latest weekly report, the Energy Information Administration revealed that gasoline stocks grew by an astonishing 4.4 million bbl last week. Total domestic stocks now sit at 235.2 million bbl. Meanwhile, gas demand grew slightly from 9.55 million b/d to 9.65 million b/d. The increasing stock levels are contributing to pump price drops this week, even though demand remains strong. If total domestic stocks continue to outpace demand, American motorists will likely continue to see pump prices drop this summer.

Regional Prices

http://accesswdun.com/article/2019/8/822326/aaa-gas-prices-continue-summer-decline

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