Monday, February 3, 2025–7:30 a.m.
-AAA South-
Georgia’s gas price average decreased at the pumps compared to a week ago.
Georgians pay an average price of $2.93 per gallon for regular unleaded gasoline, which is 3 cents less than a week ago, 3 cents more than a month ago, and 10 cents less than last year.
It costs drivers an average price of $43.95 to fill a 15-gallon tank of regular gasoline. Georgians pay almost $2.00 less to fill up at the pump than a year ago.
“Declining oil prices, coupled with lukewarm local demand, have allowed fuel prices to retreat from their peak for now,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “Moreover, with half of winter’s chill behind us, we anticipate fewer unexpected price surges when we refuel.”
Nationally
Drivers Catch a Small Break at the Pump
Since last Monday, the national average for a gallon of regular gasoline decreased by 3 cents to $3.09. Easing oil costs and tepid domestic demand helped pump prices ease up on the pedal. According to Energy Information Administration (EIA) data, gasoline demand increased from 8.08 million barrels a day last week to 8.30. Meanwhile, total domestic gasoline stocks rose from 245.9 million barrels to 248.9, while gasoline production decreased last week, averaging 9.2 million barrels daily.
Oil Market Dynamics
At the close of Wednesday’s formal trading session, WTI fell $1.15 to settle at $72.62 a barrel. The EIA reports that crude oil inventories increased by 3.5 million barrels from the previous week. At 415.1 million barrels, U.S. crude oil inventories are about 6% below the five-year average for this time of year.
