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Georgia gas prices dip again

Monday, October 2, 2023–10:07 a.m.

-David Crowder, WRGA News-

Georgia gas prices continue to decline.

Georgia drivers are now paying an average price of $3.24 per gallon for regular unleaded gasoline, which is 6 cents less than a week ago, 36 cents less than a month ago, but 7 cents more than this time last year. 

It now costs an average of $48.60 to fill a 15-gallon tank of regular gasoline. Georgians are paying an average of almost $6.00 less to fill up at the pump compared to a month ago.

Local averages Monday were $3.13 in Floyd County, $3.18 in Bartow County, $3.19 in Gordon County, and $3.20 in Polk County. Chattooga County had the lowest average at $3.12.

“Governor Kemp’s suspension of Georgia’s state gas tax continues to be the driving force lowering gas prices,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “Georgians continue to benefit at the pump heading into October.”

The National Average Falling Like a Feather

Since last Monday, the national average for a gallon of regular gasoline decreased by 3 cents to $3.81 (subject to change overnight).  The slow descent is due to the high cost of oil, which is acting like a drogue chute on falling gas prices. According to data from the Energy Information Administration (EIA), gas demand rose slightly from 8.41 to 8.62 million barrels a day last week; however, it is below last year’s rate of 8.83 million barrels a day during the same week in September 2022. Meanwhile, total domestic gasoline stocks increased by 1 million barrels to 220.5 million barrels. Growing supply, amid tepid demand, has pushed prices lower. Still, fluctuating oil prices have limited seasonal price decreases typically seen as the country settles into the lower-demand fall-driving season.