AAA: Georgia Pump Prices Jump 4 Cents

NEWS RELEASE

ATLANTA, GA., (June 8, 2020) — Georgia gas prices  increased at the pump compared to a week ago. Georgia motorists are now paying an average price of $1.79 per gallon for regular unleaded gasoline. Monday’s state average is 4 cents more than a week ago, 17 cents more than last month, and 75 cents less than this time last year.

It now costs motorists $26.85 to fill a 15-gallon tank of gasoline; that is $14.25 less than what motorists paid in April of 2019, when pump prices hit their peak of $2.74 per gallon.

“All South and Southeast states saw pump prices increase,” said Montrae Waiters, spokeswoman, AAA – The Auto Club Group. “The good news is that gas continues to be fairly cheap. Georgians can fill-up for $2/gallon or less at gas stations across the state.”

National Gas Average Increases Alongside Demand

Since last Monday, the national average for a gallon of regular gasoline is $2.02, which is 5 cents higher than a week ago. According to new data from the Energy Information Administration (EIA), demand grew slightly from 7.3 million barrels a day to 7.5 million barrels a day last week. The increase in demand has occurred alongside an increase in the national average. If this trend continues, motorists will likely see pump prices continue to move higher.

At the close of last Thursday’s formal trading session, WTI increased by 12 cents to $37.41 per barrel. Domestic crude prices have been volatile as the market awaits a potential announcement from the Organization of the Petroleum Exporting Countries (OPEC) on additional steps to reduce crude production amid the COVID-19 pandemic, which has lowered global crude demand. OPEC and other large crude producers, including Russia, are implementing a 9.7 million barrels a day crude production reduction agreement for May and June 2020, but the future of the agreement is uncertain. As market uncertainty over the agreement increases, crude prices will likely remain volatile.

Regional Prices

Atlanta ($1.76)

  • Most expensive Georgia metro markets – Brunswick ($1.91), Savannah ($1.88) and Valdosta ($1.87).
  • Least expensive Georgia metro markets – Athens ($1.73), Rome ($1.74) and Catoosa-Dade-Walker ($1.75). 

 

CURRENT AND PAST PRICE AVERAGES (Regular Unleaded Gasoline) 

Sunday Saturday Week Ago Month Ago One Year Ago 2019 Low 2019 High Record High
National $2.02  $2.01  $1.97   $1.81 $2.77  $2.23 (January) $2.90 (May) $4.11   (7/17/2008)
Georgia $1.79  $1.78  $1.75  $1.62  $2.54  $2.04 (January) $2.74 (April) $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