AAA: Georgia Pump Prices Continue To Drop

NEWS RELEASE

ATLANTA, Ga., (July 29, 2019) — Georgia gas prices continue to decline. Georgia motorists are now paying an average price of $2.61 per gallon for regular unleaded. Monday’s state average is 4 cents less than a week ago, 9 cents more than this time last month, and 11 cents less than this time last year.

It now costs $39.15 to fill a 15-gallon tank of gasoline. That is $2.85 less than what motorists paid last May, when pump prices hit their 2018 peak of $2.84 per gallon.

“Gasoline stocks remain robust amid a recent dip in demand, which could be one reason we are seeing Georgia pump prices decline,” said Montrae Waiters, spokeswoman, AAA – The Auto Club Group. “It is too soon to know if this is a long-term trend, but it is certainly a welcome relief for motorists.”

Low Gas Demand Helps to Push Pump Prices Down

Lower than usual demand has helped to push pump prices down. According to the Energy Information Administration’s (EIA) report for the weekend ending on July 19, domestic demand hit 9.67 million b/d. Although it grew from the previous week’s 9.2 million b/d, last week’s rate is below the 9.82 million b/d American motorists used during this time last year. Additionally, total domestic stocks of gas fell slightly to 232.5 million bbl. If stocks continue to drop amid low demand, pump prices will likely continue to decline moving into next week.

Regional Prices

  • Georgia most expensive metro markets –Atlanta ($2.67), Macon ($2.62), and Brunswick ($2.61).
  • Georgia least expensive metro markets – Catoosa-Dade-Walker ($2.45), Columbus ($2.47) and Albany ($2.49).

CURRENT AND PAST PRICE AVERAGES (Regular Unleaded Gasoline)

Sunday Saturday Week Ago Month Ago One Year Ago 2018 High Record High
National $2.73 $2.74 $2.77 $2.70 $2.85 $2.97 (5/26/2018) $4.11   (7/17/2008)
Georgia $2.61 $2.62 $2.65 $2.52 $2.72 $2.84 (5/27/2018) $4.16   (9/15/2008)
Click here to view current gasoline price averages

Gas Price Survey Methodology

AAA updates fuel price averages daily at www.GasPrices.AAA.com. Every day up to 130,000 stations are surveyed based on credit card swipes and direct feeds in cooperation with the Oil Price Information Service (OPIS) and Wright Express for unmatched statistical reliability. All average retail prices in this report are for a gallon of regular, unleaded gasoline.

(SOURCE: AAA)

 

Categories: Georgia News