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Gas Prices in Georgia Continue to Decline

Georgia gas prices are on the decline and drivers are still paying less at the pump. 

Georgia gas prices are on the decline and drivers are still paying less at the pump.

The most recent reports indicate that Georgia motorists are paying an average price of $2.57 per gallon for regular unleaded gasoline. The latest amount shows that the state average is 4 cents less than it was last week. One month ago, prices were one cent higher and 20 cents less than prices at the same time in 2018.

It now costs $38.55 to fill a 15-gallon tank of gasoline. That is $4.05 less than what motorists paid last May, when pump prices hit their 2018 peak of $2.84 per gallon.

“These less expensive gas prices are a welcome relief at the pump,” Montrae Waiters, spokeswoman, AAA – The Auto Club Group, said in a news release. “Right now, gas prices are poised to push even cheaper going into the first full week of August.”

Falling Gas Demand Contributes to Declining Pump Prices

New data from the Energy Information Administration revealed that demand dropped last week, landing at 9.55 million b/d. The rate is approximately 100,000 b/d less than the previous week and 300,000 b/d less than last year at this time. Total domestic stocks of gasoline also fell last week. They hit 230.7 million bbl after the total refinery utilization rate fell slightly to 93 percent, which is 2 percent lower than last summer at this time. If demand remains low, pump prices will likely continue to see modest decreases moving into this week.

Regional Prices

  • Georgia most expensive metro markets –Atlanta ($2.63), Macon ($2.61), and Hinesville-Fort Stewart ($2.58).
  • Georgia least expensive metro markets – Catoosa-Dade-Walker ($2.41), Columbus ($2.45) and Albany ($2.47).

CURRENT AND PAST PRICE AVERAGES (Regular Unleaded Gasoline)                                                        

Sunday Saturday Week Ago Month Ago One Year Ago 2018 High Record High
National $2.71 $2.71 $2.73 $2.75 $2.86 $2.97 (5/26/2018) $4.11   (7/17/2008)
Georgia $2.57 $2.58 $2.61 $2.58 $2.77 $2.84 (5/27/2018) $4.16   (9/15/2008)
Click here to view current gasoline price averages

Jessica Szilagyi is a former Statewide Contributor for AllOnGeorgia.com.

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