December 28th, 2020 – 12:05 PM
AAA The Auto Club Group –
Georgia gas prices increased at the pump compared to a week ago. Georgia motorists are now paying an average price of $2.08 per gallon for regular unleaded gasoline. Monday’s state average is 4 cents more than a week ago, 12 cents more than last month, and 33 cents less than this time last year.
It now costs motorists $31.20 to fill a 15-gallon tank of gasoline; that is $9.90 less than what motorists paid in April of 2019, when pump prices hit their peak of $2.74 per gallon.
“Filling up is getting more expensive. On the week, nearly 20 states have gas price averages that increased at least three cents,” said Montrae Waiters, spokeswoman, AAA – The Auto Club Group. “Despite low demand, pump prices are more expensive because crude oil has seen steady gains.”
OIL MARKETS DYNAMICS
Since Monday, the national average for a gallon of regular gasoline has increased by 3 cents to $2.21. The Energy Information Administration (EIA) measures weekly gasoline demand at 8 million barrels a day, up from the previous week, while gasoline stocks decreased about one million barrels down to 237.7 barrels. Typically, this combination would result in cheaper gas prices, but with crude oil pricing at the highest levels since February, that is not the case. Motorists can expect gas prices to rise in the coming week, but still be cheaper than the end of 2019.
At the close of Friday’s formal trading session, WTI increased by 11 cents to settle at $48.23. Crude prices increased last due to a weak dollar and rising market optimism that coronavirus vaccines will help crude oil demand recover in 2021. However, as coronavirus infection rates continue to climb and travel restrictions increase this week, crude price gains could be capped.
- Most expensive Georgia metro markets – Brunswick, ($2.17), Savannah ($2.13), and Atlanta ($2.09).
- Least expensive Georgia metro markets – Rome ($1.99), Columbus ($2.02), and Warner Robins ($2.03).
CURRENT AND PAST PRICE AVERAGES (Regular Unleaded Gasoline)
|Sunday||Saturday||Week Ago||Month Ago||One Year Ago||2019 Low||2019 High||Record High|
|National||$2.25||$2.25||$2.22||$2.12||$2.57||$2.23 (January)||$2.90 (May)||$4.11 (7/17/2008)|
|Georgia||$2.08||$2.08||$2.04||$1.96||$2.41||$2.04 (January)||$2.74 (April)||$4.16 (9/15/2008)|
|Click here to view current gasoline price averages|