26 October 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
$1.98 (- .02¢)

 

AAA: GEORGIA GAS PRICES SHIFT LOWER

GA Gas Oct 26.jpg

ATLANTA, GA., (October 26, 2020) — Georgia gas prices  decreased at the pump compared to a week ago. Georgia motorists are now paying an average price of $1.98 per gallon for regular unleaded gasoline. Monday’s state average is 2 cents less than a week ago, 2 cents less than last month, and 43 cents less than this time last year.

It now costs motorists $29.70 to fill a 15-gallon tank of gasoline; that is $11.40 less than what motorists paid in April of 2019, when pump prices hit their peak of $2.74 per gallon.

“Georgians continue to see cost savings at the pump,” said Montrae Waiters, spokeswoman, AAA – The Auto Club Group. “Lower demand has aided gas prices to decline, which will likely last until the end of fall.”

DECLINE IN GAS DEMAND CONTRIBUTES TO NATIONAL AVERAGE REMAINING LOW

Since last Monday, the national average for a gallon of regular gasoline has decreased by 1 cent to $2.16. In the new weekly report from the Energy Information Administration (EIA), gas demand decreased from 8.58 million barrels a day to 8.29 million barrels a day. Low demand, even as total domestic stocks increased by 1.9 million barrels to 227 million barrels last week, has helped pump prices decrease. As demand remains low, American drivers should expect pump prices to continue to decline this fall

OIL MARKETS DYNAMICS

At the close of last Thursday’s formal trading session, WTI increased by 61 cents to settle at $40.64. Domestic crude prices increased despite market concern about increasing coronavirus infections worldwide, which could lower crude demand as countries impose new restrictions that will likely limit oil consumption. The increase in crude prices was supported by EIA’s new weekly report showing that total domestic crude inventories dropped by 1 million barrels to 488.1 million barrels last week. However, if demand concerns continue to weigh on the market, crude prices — and gas prices — could decrease.

REGIONAL PRICES

Atlanta ($1.99)

  • Most expensive Georgia metro markets – Brunswick ($2.07), Savannah ($2.06) and Hinesville-Fort Stewart ($2.00).
  • Least expensive Georgia metro markets – Columbus ($1.88), Warner Robins ($1.89) and Rome ($1.90). 

 

CURRENT AND PAST PRICE AVERAGES (Regular Unleaded Gasoline) 

Sunday

Saturday

Week Ago

Month Ago

One Year Ago

2019 Low

2019 High

Record High

National

$2.16 

$2.16

$2.17 

$2.19

$2.61

$2.23 (January)

$2.90 (May)

$4.11   (7/17/2008)

Georgia

$1.98 

$1.98

$2.00

$2.00

$2.41

$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.

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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.