July 27th, 2020 – 9:50 AM
AAA – The Auto Club Group –
Georgia gas prices declined slightly 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 1 cent less than a week ago, 2 cents more than last month, and 62 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.
“Decreasing demand for gasoline contributed to the drop in pump prices this week,” said Montrae Waiters, spokeswoman, AAA – The Auto Club Group. “If demand continues to drop, pump prices could push cheaper in the coming week.”
Low Demand Pulls National Average Lower
Since last Monday, the national average for a gallon of regular gasoline has decreased by a penny to $2.18. In the new report from the Energy Information Administration (EIA), gas demand fell from 8.65 million barrels a day to 8.55 million barrels a day last week.
At the close of Thursday’s formal trading session, WTI decreased by 83 cents to settle at $41.07. Domestic crude prices decreased after EIA’s weekly report revealed that total domestic inventories increased by 4.9 million barrels. The increase, amid falling gasoline demand, could mean that the domestic crude market is oversupplied, which led crude prices to fall and they could see more decreases if crude supplies continue to increase.
- Most expensive Georgia metro markets – Hinesville-Fort Stewart ($2.10), Brunswick ($2.08) and Savannah ($2.07).
- Least expensive Georgia metro markets – Catoosa-Dade-Walker ($1.90), Rome ($1.94) and Athens ($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||$2.19||$ 2.17||$ 2.74||$2.23 (January)||$2.90 (May)||$4.11 (7/17/2008)|
|Georgia||$2.00||$2.00||$2.01||$1.98||$2.62||$2.04 (January)||$2.74 (April)||$4.16 (9/15/2008)|
|Click here to view current gasoline price averages|