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Georgia gas prices down 4 cents from a week ago

Monday, August 28, 2023–8:10 a.m.

-David Crowder, WRGA News-

Georgia gas prices continue to inch downward.

Monday’s state average was $3.57 per gallon for regular unleaded, which is 4 cents less than a week ago but 5 cents more than a month ago, and 18 cents more than this time last year. 

It now costs almost $53.55 to fill a 15-gallon tank of regular gasoline. Drivers are paying almost $3.00 more to fill up at the pump compared to a year ago.

Local averages on Monday were $3.46 in Floyd County, 3.48 in Bartow County, $3.50 in Polk County, $3.51 in Gordon County, and $3.45 in Chattooga County.

Georgia’s gas price average remains lower than the national average, which is currently trending at $3.81 a gallon.

“Pump prices appear to be dropping across the country,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “Largely due to declining crude oil prices, however, concerns regarding potential storm activity could redirect falling pump prices heading into Labor Day weekend. Georgians can anticipate pump prices to ebb and flow in September.” 

Gas Prices Nudge Down, But Further Relief Could Face Turbulence

Since last Monday, the national average for a gallon of regular gasoline has decreased by 5 cents to $3.81. The price of oil has declined several dollars per barrel and is holding steady below $80, contributing to lower pump prices. As Labor Day approaches, gas demand and volatile oil prices, particularly during an active hurricane season, could limit how much lower prices descend in the weeks ahead. According to data from the Energy Information Administration (EIA), gas demand jumped from 8.85 to 8.91 million barrels a day. Meanwhile, total domestic gasoline stocks increased slightly from 216.2 to 217.6 million barrels. Although demand increased, growing stock levels contributed to pushing prices lower.