AAA: Georgia Pump Prices Drop 3 Cents

NEWS RELEASE

ATLANTA, GA., (September 21, 2020) — Georgia gas prices  decreased at the pump compared to a week ago. Georgia motorists are now paying an average price of $1.99 per gallon for regular unleaded gasoline. Monday’s state average is 3 cents less than a week ago, 1 cent more than last month, and 60 cents less than this time last year.

“Georgians continue to see cost savings at the pump,” said Montrae Waiters, spokeswoman, AAA – The Auto Club Group. “Lower demand has aided gas prices to decline, which will likely last into fall.”

It now costs motorists $29.85 to fill a 15-gallon tank of gasoline; that is $11.25 less than what motorists paid in April of 2019, when pump prices hit their peak of $2.74 per gallon.

LOW GAS DEMAND CONTRIBUTES TO DECREASE IN NATIONAL AVERAGE

Since last Monday, the national average for a gallon of regular gasoline has decreased by 1 cent to $2.18. In the new weekly report from the Energy Information Administration (EIA), gas demand saw a slight uptick from 8.39 million barrels a day to 8.48 million barrels a day. However, demand is still 461,000 barrels a day lower than where it was at this time last year. Low demand will likely help pump prices to continue their descent as fall approaches.

At the close of last Thursday’s formal trading session, WTI decreased by 86 cents to settle at $41.02. Domestic crude prices decreased after EIA’s weekly report revealed that total domestic crude inventories decreased by 4.4 million barrels last week to 496 million barrels. Decreasing stocks could signal that supply and demand are beginning to rebalance, even as crude production grew by 900,000 barrels a day last week to 10.9 million barrels a day. Crude prices may continue to increase if supplies grow tighter, but demand challenges could contain potential growth in prices.

REGIONAL PRICES

Atlanta ($1.99)

  • Most expensive Georgia metro markets – Savannah ($2.08), Brunswick ($2.07) and Hinesville-Fort Stewart ($2.04).
  • Least expensive Georgia metro markets – Columbus ($1.90), Catoosa-Dade-Walker ($1.91) and Gainesville ($1.94).

 

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 $2.19  $2.18 $2.66 $2.23 (January) $2.90 (May) $4.11   (7/17/2008)
Georgia  $1.99 $1.99 $2.02 $1.98  $2.59 $2.04 (January) $2.74 (April) $4.16   (9/15/2008)
Click here to view current gasoline price averages

 

 

 

 

 

SOURCE: AAA

Categories: Georgia News