AAA: Georgia Pump Prices Jump 8 Cents

NEWS RELEASE

ATLANTA, GA., (June 29, 2020) — Georgia gas prices  increased at the pump compared to a week ago. Georgia motorists are now paying an average price of $2.00 per gallon for regular unleaded gasoline. 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.

It now costs motorists $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 Montrae Waiters, spokeswoman, AAA – The Auto Club Group. “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)

  • Most expensive Georgia metro markets – Savannah ($2.05), Augusta ($2.04) and Brunswick ($2.03).
  • Least expensive Georgia metro markets – Athens ($1.95), Rome ($1.96) and Warner Robins ($1.97).

CURRENT AND PAST PRICE AVERAGES (Regular Unleaded Gasoline) 

Sunday Saturday Week Ago Month Ago One Year Ago 2019 Low 2019 High Record High
National $2.18  $2.18  $2.13  $2.00  $2.71  $2.23 (January) $2.90 (May) $4.11   (7/17/2008)
Georgia $2.00  $2.00  $1.92  $1.75  $2.52  $2.04 (January) $2.74 (April) $4.16   (9/15/2008)
Click here to view current gasoline price averages

(SOURCE: AAA)

Categories: Georgia News