Monday, January 15, 2024–7:46 a.m.

-AAA South-

Georgia’s gas price average continues to drop at the pump compared to a week ago. Georgia drivers are now paying an average price of $2.95 per gallon for regular unleaded gasoline (subject to change overnight). Monday’s state average is 2 cents less than a week ago, 4 cents less than a month ago, and 10 cents less than this time last year. It now costs an average of $44.25 to fill a 15-gallon tank of regular gasoline. Georgians are now paying $1.50 less to fill up at the pump compared to a year ago.

“Lackluster demand, alongside increased global oil supply, appear to be factors decreasing prices at the pump,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “However, keep an eye out on frigid temps because those can affect refinery production, pushing some regional gas prices higher.”

Local averages on Monday were $2.87 in Floyd County, $2.89 in Gordon County, $2.92 in Bartow County, $2.90 in Polk County, and $2.85 in Chattooga County.

Gas Prices Stay In the Slow Lane for Now

Since last Monday, the national average for a gallon of regular gasoline has decreased by 1 cent to $3.06 (subject to change overnight). The primary reason appears to be rather humdrum numbers for the cost of oil and gasoline demand. According to data from the Energy Information Administration (EIA), gas demand increased from 7.95 to 8.33 million barrels a day last week.

Meanwhile, total domestic gasoline stocks increased significantly by 8 million barrels to 245 million barrels. The slight uptick in demand has limited pump price drops, causing the national average to stagnate. However, if oil prices continue to drop, drivers could continue to see pump prices trickle lower.