As crude oil prices rise, so do pump prices in Georgia.
This week's fuel price report from AAA-The Auto Club South indicated Georgia motorists are now paying an average price of $3.15 per gallon for regular unleaded gasoline, an increase of nine cents a gallon from last Monday. The current pump price is 18 cents more than last month and $1.15 more than this time last year.
Georgia motorists are paying $47.25 to fill a 15-gallon tank of gasoline - $10.35 more than what motorists paid in January of 2020 when pump prices hit their peak of $2.46 per gallon.
“The key driver for the rise of gas prices is crude oil, which typically accounts for between 50% and 60% of the price at the pump,” said AAA spokeswoman Montrae Waiters. “Unfortunately, it’s still too early to tell when Georgians will see some type of relief regarding gas prices this season.”
PUMP PRICES CONTINUE TO RISE ALONGSIDE CRUDE PRICES
The national average for a gallon of regular gasoline is $3.19. According to data from the Energy Information Administration (EIA), total domestic gasoline stocks decreased by 2 million barrels to 223.1 million barrels last week. Gasoline demand also fell from 9.43 million barrels a day to 9.19 million barrels a day. Typically, lower demand alongside a decline in stocks would result in downward market pressure on pump prices. But high crude prices (above $80 per barrel) remain the main culprit for rising pump prices. As crude prices remain elevated, pump prices will likely follow suit.
REGIONAL PRICES
Atlanta - $3.15
Hall County - $3.11
Most expensive Georgia metro markets – Savannah ($3.25), Hinesville-Fort Stewart ($3.21), and Macon ($3.15).
Least expensive Georgia metro markets – Catoosa-Dade-Walker ($3.08), Augusta-Aiken ($3.09), and Albany ($3.10).
