03 August 2020

NEWS RELEASE

 

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

 

 

GEORGIA
AVERAGE PRICE PER GALLON
$1.99 (- 1¢)

 

AAA: GEORGIA GAS PRICES DECREASE SLIGHTLY AT THE PUMP

ATLANTA, GA., (August 3, 2020) — Georgia gas prices  decreased slightly at the pump compared to a week ago. Georgia motorists are now paying an average price of $1.99 per gallon for regular unleaded gasoline. Monday’s state average is 1 cent less than a week ago, same as last month, and 60 cents less than this time last year.

It now costs motorists $29.85 to fill a 15-gallon tank of gasoline; that is $11.25 less than what motorists paid in April of 2019, when pump prices hit their peak of $2.74 per gallon.

“Georgia Pump prices are mostly pushing cheaper across the state as gasoline demand wanes over the past few weeks,” said Montrae Waiters, spokeswoman, AAA – The Auto Club Group. “Until it appears that the threat from COVID-19 decreases, gas prices are likely going to continue shifting.”

Since last Monday, the national average for a gallon of regular gasoline holds steady at $2.18. As COVID-19 case numbers surpass 4 million, demand for gasoline is weakening across the country. According to the Energy Information Administration (EIA) demand reading measures at 8.5 million barrels a day, which is about 11% less than a year ago. The lower demand contributed to a cheaper national average on the week.

Oil Market Dynamics

At the end of Friday’s formal trading session, WTI increased by 22 cents to settle at $41.29 per barrel. Domestic crude prices increased due to a slight decrease in the value of a U.S. dollar. However, crude prices could fall this week, since EIA’s weekly report revealed that total domestic inventories increased by 4.9 million barrels. The increase, amid falling gasoline demand, could mean that the domestic crude market is oversupplied.

Regional Prices

Atlanta ($1.97)

  • Most expensive Georgia metro markets – Brunswick ($2.13), Hinesville-Fort Steward ($2.10) and Savannah ($2.07).
  • Least expensive Georgia metro markets – Catoosa-Dade-Walker ($1.90), Rome ($1.92) and Gainesville ($1.93). 

 CURRENT AND PAST PRICE AVERAGES (Regular Unleaded Gasoline) 

Sunday

Saturday

Week Ago

Month Ago

One Year Ago

2019 Low

2019 High

Record High

National

$2.18 

$2.18 

$2.18 

$2.17 

$2.72

$2.23 (January)

$2.90 (May)

$4.11   (7/17/2008)

Georgia

$1.99 

$1.99 

$2.00 

$1.99 

$2.59 

$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 to 130,000 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.