|
|
NEWS RELEASE MEDIA CONTACT:
|
GEORGIA |
AAA: GEORGIA GAS PRICES INCREASE SLIGHTLY AT THE PUMP
ATLANTA, GA., (July 20, 2020) — Georgia gas prices increased at the pump compared to a week ago. Georgia motorists are now paying an average price of $2.01 per gallon for regular unleaded gasoline. Monday’s state average is 2 cents more than a week ago, 10 cents more than last month, and 65 cents less than this time last year.
It now costs motorists $30.15 to fill a 15-gallon tank of gasoline; that is $10.95 less than what motorists paid in April of 2019, when pump prices hit their peak of $2.74 per gallon.
“Pump prices in Georgia are still relatively cheap compared to last summer,” said Montrae Waiters, spokeswoman, AAA – The Auto Club Group. “But there are still concerns regarding recent uptick in new COVID-19 cases, and how this will impact gasoline prices in the coming week.”
Since last Monday, the national average for a gallon of regular gasoline holds steady at $2.19. According to new data from the Energy Information Administration (EIA), total domestic gasoline supplies decreased by 3.1 million barrels last week, bringing the current level to 248.5 million barrels. As supplies tighten, prices could continue to rise, depending on demand. Last week, demand for gasoline fell slightly from 8.77 million barrels a day to 8.65 million barrels a day.
Oil Market Dynamics
At the close of last Thursday’s formal trading session, WTI decreased by 45 cents to settle at $40.75. Domestic crude prices fell after EIA’s weekly report revealed that total domestic crude inventories decreased by 7.5 million barrels to 531.7 million barrels. Decreasing crude stocks could mean that crude production is beginning to meet demand and could reduce price volatility, as coronavirus outbreaks continue to grow worldwide.
Regional Prices
Atlanta ($2.00)
- Most expensive Georgia metro markets – Hinesville-Fort Stewart ($2.10), Savannah ($2.07) and Augusta-Aiken ($2.05).
- Least expensive Georgia metro markets – Catoosa-Dade-Walker ($1.93), Gainesville ($1.95) and Dalton ($1.96).
CURRENT AND PAST PRICE AVERAGES (Regular Unleaded Gasoline)
|
|
Sunday |
Saturday |
Week Ago |
Month Ago |
One Year Ago |
2019 Low |
2019 High |
Record High |
|
National |
$2.19 |
$2.19 |
$2.19 |
$2.11 |
$2.78 |
$2.23 (January) |
$2.90 (May) |
$4.11 (7/17/2008) |
|
Georgia |
$2.01 |
$2.01 |
$1.99 |
$1.91 |
$2.66 |
$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.