Georgia Gas Prices Push Lower This Week
Monday, May 1st, 2017
Georgia gas prices declined for the 11th consecutive day on Sunday. The state average dropped 2 cents last week, and motorists should see another round of falling prices this week.
"Gas prices were knocked off their seasonal upward trend, when new data revealed record-high refinery activity, setting off market concerns of a gasoline glut," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "When refineries finished spring maintenance season, they accelerated production to levels that have outpaced demand. Because of this unexpected shift in fundamentals, motorists have likely seen the highest prices for the foreseeable future, and retail prices should fall a few more pennies this week."
The Georgia average retail price of $2.26 is 13 cents less than the national average, according to data provided by AAA, from a collection of 120,000 gas stations nationwide, based on credit card swipes and direct feeds in cooperation with the Oil Price Information Service (OPIS) and Wright Express for unmatched statistical reliability.
April gas prices reached their highest average price since April 2015. According to historical AAA data, Georgia gas prices averaged $2.27 in April, with daily retail prices ranging between $2.19 - $2.29 per gallon.
- The most expensive Georgia gas prices are in Savannah ($2.29), Atlanta ($2.26), and Valdosta ($2.26).
- The least expensive Georgia gas prices are in Augusta ($2.19), Macon ($2.21), and Columbus ($2.25).
Fuel Fundamentals
(Based on weekly data provided by the EIA)
- Crude oil prices slipped to the lowest weekly average in a month ($49.43)
- Wholesale gasoline futures prices plummeted last week, falling to the lowest level in 8 weeks
- U.S. crude inventories decreased slightly, but remain near the upper limit of the average range
- Domestic crude production climbed by 13,000 barrels per day
- Gasoline demand remains muted so far this year. Demand has been unable to match last year's record highs, spurred by low pump prices.
- Gasoline supplies rose 1.4 percent last week and nearing last year's levels
- Gasoline production ramped-up by 4.3 percent
- Refineries are humming along at record levels in the wake of stagnate demand
Daily national, state, and metro gas price averages can be found at Gasprices.aaa.com. Motorists can find the lowest gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.
CURRENT AND PAST PRICE AVERAGES
Regular Unleaded Gasoline
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Sunday | Saturday | Week Ago | Month Ago | One Year Ago | Highest Price on Record |
National | $2.388 | $2.392 | $2.420 | $2.305 | $2.208 | $4.114 (7/17/2008) |
Florida | $2.419 | $2.425 | $2.458 | $2.291 | $2.208 | $4.079 (7/17/2008) |
Georgia | $2.257 | $2.262 | $2.282 | $2.167 | $2.162 | $4.164 (9/15/2008) |
Tennessee | $2.152 | $2.155 | $2.173 | $2.044 | $2.041 | $4.118 (9/15/2008) |
Click here to view current gasoline price averages |
AAA updates fuel price averages daily at www.GasPrices.AAA.com. Every day up to 120,000 stations are surveyed based on credit card swipes and direct feeds in cooperation with the Oil Price Information Service (OPIS) and Wright Express for unmatched statistical reliability. All average retail prices in this report are for a gallon of regular, unleaded gasoline.