February 6th, 2023 – 12:25 PM
AAA – The Auto Club Group –
Georgia gas price average declined at the pump compared to a week ago. Georgia drivers are now paying an average price of $3.34 per gallon for regular unleaded gasoline (subject to change overnight). Monday’s state average is 5 cents less than a week ago, 52 cents more than a month ago, and 10 cents more than this time last year. It now costs $50.10 to fill a 15-gallon tank of regular gasoline. Drivers are now paying almost $2.00 more to fill up at the pump compared to a year ago.
“Georgians finally felt relief at the pumps this weekend,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “Despite rising gas demand across the U.S. and recently elevated oil prices, the growth in total supply has helped to limit pump price increases.”
National Average Dips Lower as Supply Expands
Since last Monday, the national average for a gallon of regular gasoline has decreased by 3 cents to $3.47. According to data from the Energy Information Administration, gas demand rose from 8.14 to 8.49 million barrels a day last week. Meanwhile, total domestic gasoline stocks increased by 2.6 million barrels to 234.6 million barrels. At the close of last Wednesday’s formal trading session, WTI decreased by $2.46 to settle at $76.41. Crude prices fell last week after the U.S. Federal Reserve increased interest rates and signaled that more increases are possible. As a result, the market believes oil demand could be less than expected this year, pulling prices down.
Current and Past Price Averages (Regular Unleaded Gasoline)
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