08 September 2020

NEWS RELEASE

MEDIA CONTACT:
Montrae Waiters, AAA spokeswoman, The Auto Club Group
Cell (813) 244-0815 
MWaiters@AAASouth.com

GEORGIA
AVERAGE PRICE PER GALLON
$2.03 (- .01¢)

 

AAA: As Summer Fades Away, Cheaper Gas Prices Here to Stay

ATLANTA, GA., (September 8, 2020) — Georgia gas prices  decreased at the pump compared to a week ago. Georgia motorists are now paying an average price of $2.03 per gallon for regular unleaded gasoline. Monday’s state average is 1 cent less than a week ago, 6 cents more than last month, and 35 cents less than this time last year.

Motorists saw plenty of savings at the pump from Memorial Day through Labor Day. Demand was decimated this summer, which ultimately meant increased supply and cheap gas prices. It now costs Georgia motorists $30.45 to fill a 15-gallon tank of gasoline; that is $10.65 less than what motorists paid in April of 2019, when pump prices hit their peak of $2.74 per gallon.

“Summer may be fading into the rearview mirror, but less expensive gas prices are not,” said Montrae Waiters, spokeswoman, AAA – The Auto Club Group. “Moving into fall we traditionally see a drop in demand and further savings at the pump. This year that means pump prices could possibly push even lower then we’ve already seen in 2020.”

Oil Market Dynamics

Since last Monday, the national average for a gallon of regular gasoline has decreased by 2 cents to $2.21. In its latest report, the Energy Information Administration (EIA) reported that demand dropped from 9.16 million barrels a day to 8.79 barrels a day. While gasoline stocks dropped by 4.3 million barrels to 234.9 million barrels, total supply is 5.2 million barrels more than this time last year.

At the end of Friday’s formal trading session, WTI decreased by $1.60 to settle at $39.77 per barrel. The price of crude decreased in reaction to a decline in the stock market at the end of last week. The price decreased despite EIA’s weekly report revealing that total domestic crude inventories dropped by 9.4 million barrels, lowering total domestic stocks to 498.4 million barrels. For this week, crude prices could decline further if crude demand concerns arise amid another stock market downturn. 

Regional Prices

Atlanta ($2.01)

  • Most expensive Georgia metro markets – Brunswick ($2.15), Hinesville-Fort Stewart ($2.14) and Savannah ($2.11).
  • Least expensive Georgia metro markets – Catoosa-Dade-Walker ($1.94), Gainesville ($1.97) and Dalton ($1.98). 

 CURRENT AND PAST PRICE AVERAGES (Regular Unleaded Gasoline) 

Sunday

Saturday

Week Ago

Month Ago

One Year Ago

2019 Low

2019 High

Record High

National

$2.21 

$2.22 

$2.23 

$2.17 

$2.56 

$2.23 (January)

$2.90 (May)

$4.11   (7/17/2008)

Georgia

$2.03 

$2.03 

$2.04 

$1.97 

$2.38 

$2.04 (January)

$2.74 (April)

$4.16   (9/15/2008)

Click here to view current gasoline price averages

 

Gas Price Survey Methodology
AAA updates fuel price averages daily at www.GasPrices.AAA.com. Every day up to130,000 stations are surveyed based on credit card swipes and direct feeds in cooperation with the Oil Price Information Service (OPIS) and Wright Express for unmatched statistical reliability. All average retail prices in this report are for a gallon of regular, unleaded gasoline.

Visit the AAA Georgia Newsroom

Twitter @AAAGeorgia 

About AAA - The Auto Club Group

The Auto Club Group (ACG) is the second largest AAA club in North America with more than 14 million members across 14 U.S. states, the province of Quebec and two U.S. territories. ACG and its affiliates provide members with roadside assistance, insurance products, banking and financial services, travel offerings and more. ACG belongs to the national AAA federation with more than 60 million members in the United States and Canada. AAA’s mission is to protect and advance freedom of mobility and improve traffic safety. For more information, get the AAA Mobile app, visit AAA.com, and follow us on Facebook, Twitter and LinkedIn.