Monday, July 22, 2024–6:38 p.m.
-AAA South-
The Georgia gas price average decreased at the pumps compared to a week ago.
Georgians are paying an average price of $3.34 per gallon for regular unleaded gasoline.
Monday’s state average is 5 cents less than a week ago,7 cents more than a month ago, and 1 cent less than this time last year.
It costs drivers an average price of $50.10 to fill a 15-gallon tank of regular gasoline. Georgians are now paying 15 cents less to fill up at the pump compared to a year ago.
“The drop in gas prices over the weekend was a welcome relief to Georgians,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “Crude oil prices, which play a key role in determining what consumers pay at the pump continue to fluctuate, and demand is down, which assists in lowering prices at the pumps. Unfortunately, we cannot predict if gas prices will rise again this week.”
Local averages on Monday were $3.26 in Floyd County, $3.27 in both Bartow and Gordon Counties, $3.32 in Polk County, and $3.19 in Chattooga County.
Pump Prices Reflect the Summer Doldrums
Since last Monday, the national average for a gallon of regular gasoline has decreased by 2 cents to $3.50 (subject to change overnight). The likely cause is the terrible demand number for gasoline, as folks may be curtailing driving amid sizzling summer temperatures.
According to new data from the Energy Information Administration (EIA), gas demand plummeted from 9.39 million barrels a day to 8.78 last week. Meanwhile, total domestic gasoline stocks fell from 231.7 to 229.7 million barrels. Gasoline production took a slight ding, likely from Hurricane Beryl, dropping from an average of 10.3 million barrels daily to 9.5. Low gasoline demand and wobbly oil costs may lead to slowly lowering pump prices.
