Georgia gas prices decreased at the pump compared to a week ago. Georgia drivers are now paying an average price of $4.19 per gallon for regular unleaded gasoline (subject to change overnight). Monday's state average is 13 cents less than a week ago, 24 cents less than last month, and $1.26 more than this time last year. 

It now costs $62.85 to fill a 15-gallon tank of regular gasoline. Drivers are paying $18.90 more at the pump than last year.

“Georgia pump prices are drifting lower as crude oil continues to decline,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “So far, the decrease in crude prices have had a noticeable impact at the pump, but if crude prices rise this week consumers could see an increase in gas at their local stations.”

Decreasing Crude Oil Prices Push Gas Prices Lower

Since last Monday, the national average for a gallon of regular gasoline has decreased by 13 cents to $4.68 (subject to change overnight). According to the Energy Information Administration (EIA), gas demand increased from 8.92 million barrels a day to 9.41 million barrels a day ahead of the 4th of July holiday, while total domestic gas stocks decreased by 2.5 million barrels. Typically, these supply/demand trends would put upward pressure on pump prices; however, falling oil prices have contributed to lower pump prices.

Crude oil prices continue to face strong headwinds amid broad market concerns regarding the potential for economic growth to slow or stall due to rising interest rates and inflation. A lower economic growth rate than expected could cause crude demand to decline, leading prices to follow suit. Additionally, EIA reported that total domestic crude stocks increased by 8.2 million barrels to 423.8 million barrels last week, which is nearly 22 million barrels lower than the storage level last year.

Regional Prices

Most expensive Georgia metro markets – Atlanta ($4.28), Hinesville-Fort Stewart ($4.28) and Athens ($4.25).

Least expensive Georgia metro markets – Warner Robins ($3.87), Albany ($3.88) and Valdosta ($3.96).