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AAA: Georgia gas prices rise to $2 a gallon with July 4th travel week

By AccessWDUN Staff
Posted 7:10AM on Monday 29th June 2020 ( 1 week ago )

It's been a while since Georgians have paid $2 a gallon for gasoline, but that's the average price per gallon for the 4th of July travel week.

According to the week's fuel price report from AAA-The Auto Club Group said Monday's state average is 8-cents more than a week ago, 25-cents more than last month, and 52-cents less than this time last year.

Motorists are now paying $30.00 to fill a 15-gallon tank of gasoline; that is $11.10 less than what motorists paid in April of 2019, when pump prices hit their peak of $2.74 per gallon.

“Demand levels are likely to ebb and flow in the coming weeks as people continue to be cautious about travel,” said AAA spokeswoman Montrae Waiters in her weekly update. “As a result, pump prices will likely continue to increase through the end of July.”

Increasing Demand Contributes To Increasing National Average

Since last Monday, the national average for a gallon of regular gasoline is $2.18, which is 5 cents higher than a week ago. According to new data from the Energy Information Administration (EIA), gas demand is estimated to have increased significantly from 7.87 million barrels a day to 8.61 million barrels a day last week. The increase in demand has helped to lift pump prices. If demand continues to trend higher, motorists will likely see pump prices continue to increase through early July.

At the close of last Thursday’s formal trading session, WTI increased by 71 cents to settle at $38.72. Although crude prices increased today in reaction to increasing economic stimulus measures by governments around the world, prices pushed cheaper earlier in the week due to an increase in new coronavirus infections worldwide, which could suppress crude demand.

Regional Prices

Atlanta ($2.00)

http://accesswdun.com/article/2020/6/915728/aaa-georgia-gas-prices-rise-to-2-a-gallon-with-july-4th-travel-week

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