Gasoline prices in Georgia increased during Christmas week, according to this week's fuel price report from AAA.
Georgia motorists are now paying an average price of $2.08 per gallon for regular unleaded gasoline. Monday's state average of $2.09 is five-cents more than a week ago and 12-cents more than last month; however, the prices is 3- cents less than this time last year.
The Auto Club Group report said motorists are paying a total of $31.35 to fill a 15-gallon tank of gasoline.
"Filling up is getting more expensive. On the week, nearly 20 states have gas price averages that increased at least three cents,” said Montrae Waiters, spokeswoman for AAA. “Despite low demand, pump prices are more expensive because crude oil has seen steady gains.”
OIL MARKETS DYNAMICS
Since Monday, the national average for a gallon of regular gasoline has increased by 3 cents to $2.21. The Energy Information Administration (EIA) measures weekly gasoline demand at 8 million barrels a day, up from the previous week, while gasoline stocks decreased about one million barrels down to 237.7 barrels. Typically, this combination would result in cheaper gas prices, but with crude oil pricing at the highest levels since February, that is not the case. Motorists can expect gas prices to rise in the coming week, but still be cheaper than the end of 2019.
At the close of Friday’s formal trading session, WTI increased by 11 cents to settle at $48.23. Crude prices increased last due to a weak dollar and rising market optimism that coronavirus vaccines will help crude oil demand recover in 2021. However, as coronavirus infection rates continue to climb and travel restrictions increase this week, crude price gains could be capped.
REGIONAL PRICES
- Most expensive Georgia metro markets – Brunswick, ($2.17), Savannah ($2.13), and Atlanta ($2.09).
- Least expensive Georgia metro markets – Rome ($1.99), Columbus ($2.02), and Warner Robins ($2.03).
- The average price in Hall County on Monday was $2.08, up from $1.99 a gallon last Monday.
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