Georgia gas prices  held steady at the pump compared to a week ago. Georgia motorists are paying an average price of $2.91 per gallon for regular unleaded gasoline. Monday's state average is the same from a week ago, 18 cents more than last month and $1.13 more than this time last year.

It costs Georgia motorists $43.65 to fill a 15-gallon tank of gasoline; that is $6.75 more than what motorists paid in January of 2020 when pump prices hit their peak of $2.46 per gallon.

“Pump prices usually trickle higher during the summer months due to increased demand,” said Garrett Townsend, AAA-The Auto Club Group Public Affairs Director. “However, if total domestic stocks outpace demand, American motorists will likely see pump prices fluctuate the next coming weeks.”

National Average Stays Flat After Memorial Day Weekend

Since Monday, the national average for a gallon of regular gasoline has held steady at $3.04.

According to data from the Energy Information Administration (EIA), demand dropped from 9.48 million barrels a day to 9.15 million barrels a day, while total domestic gas stocks increased by 1.5 million barrels last week.

OIL MARKET DYNAMICS

At the close of last Thursday’s formal trading session, WTI decreased by two cents to settle at $68.81. Although a stronger dollar factored into today’s slight price decrease, crude prices have generally increased this week after the Organization of the Petroleum Exporting Countries (OPEC), and its allies including Russia, announced they still plan to gradually increase crude production in July. The move could help reduce pump prices later this summer, but the amount of the price reduction will depend on how well OPEC and its allies adhere to their agreement and if the additional production is not met with higher demand. OPEC and its allies will meet again on July 1 to review their production agreement.

REGIONAL PRICES

• Most expensive Georgia metro markets – Atlanta ($2.94), Gainesville ($2.91), and Hinesville – Fort Stewart ($2.88).

• Least expensive Georgia metro markets – Warner Robins ($2.80), Columbus ($2.82), and Albany ($2.83).  

CURRENT AND PAST PRICE AVERAGES (Regular Unleaded Gasoline)