Georgia gas prices decreased slightly at the pump compared to a week ago. Georgia motorists are now paying an average price of $2.70 per gallon for regular unleaded gasoline. Monday’s state average is 1 cent less than a week ago, 5 cents more last month, and 99 cents more than this time last year.

It now costs motorists $40.50 to fill a 15-gallon tank of gasoline; that is $3.60 more than what motorists paid in January of 2020, when pump prices hit their peak of $2.46 per gallon.

“Georgia gas prices saw minimal or no change at the pumps across the state,” said Montrae Waiters, spokeswoman, AAA – The Auto Club Group. “We anticipate demand will continue to increase throughout the month as vaccinations become more widely available. Georgians may see gas prices fluctuate at the pump throughout the spring season.”

GASOLINE DEMAND CONTINUES TO GROW AS PUMP PRICES FLUCTUATE

Since last Monday, the national average for a gallon of regular gasoline has decreased by 1 cent to $2.86. Gasoline demand measured 8.9 million barrels a day in the Energy Administration’s (EIA) latest weekly report, up nearly 4% from the week prior. Because of the jump in demand, gasoline supplies tightened to 230.5 million barrels. On the week, states saw pump price changes ranging from an increase of 15 cents to a decrease of 3 cents.

OIL MARKET DYNAMICS

At the close of last week’s formal trading session, WTI increased $2.29 to settle at $61.45. Crude oil prices saw gains at the end of the week following the OPEC+ announcement that they will modestly increase production by 350,000 barrels starting in May. The production increase is less than the market expected, but enough to send crude oil prices higher. This week prices are likely to fluctuate, but not spike.

REGIONAL PRICES

Atlanta ($2.71)

• Most expensive Georgia metro markets – Savannah ($2.77), Brunswick ($2.75), and Macon ($2.73).

• Least expensive Georgia metro markets – Albany ($2.62), Catoosa-Dade-Walker ($2.63), and Dalton ($2.65).  

CURRENT AND PAST PRICE AVERAGES (Regular Unleaded Gasoline)  

GAS PRICE SURVEY METHODOLOGY

AAA updates fuel price averages daily at www.GasPrices.AAA.com. Every day up to 130,000 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.