The experts who watch gasoline prices say they are unsure how long it will be before Georgians see some relief at the pump.
"Crude oil continues to remain elevated, and pump prices are following suit because crude oil accounts for more than half of the price of a gallon of gas," said Montrae Waiters, spokeswoman for AAA-The Auto Club Group. "Regrettably, we can’t predict when Georgians will see relief at the pump.”
On Monday, Georgia motorists were paying an average price of $3.24 per gallon for regular unleaded gasoline. The price is nine cents more than a week ago, 25 cents more than last month and $1.26 more than this time last year.
Waiters said it now costs motorists $48.60 to fill a 15-gallon tank of gasoline, which is $11.70 more than what motorists paid in January of 2020 when pump prices hit their peak of $2.46 per gallon.
NATIONAL AVERAGE CONTINUES ASCENT AS CRUDE PRICES REMAIN ELEVATED
Since last Monday, the national average for a gallon of regular gasoline has increased by 7 cents to $3.38. According to data from the Energy Information Administration (EIA), total domestic gasoline stocks decreased by 5.4 million barrels to 217.7 million barrels last week. However, gasoline demand increased from 9.19 million barrels a day to 9.63 million barrels a day. With the US economy recovering from the depths of the pandemic, demand for gas has gone up, but supply is tight. Higher demand coupled with a decline in stocks, alongside elevated crude prices, has put upward market pressure on pump prices. Pump prices will likely rise as long as crude prices remain high — above $80 per barrel.
REGIONAL PRICES
Atlanta- $3.24
Hall County - $3.20
Most expensive Georgia metro markets – Savannah ($3.30), Brunswick ($3.28), and Hinesville-Fort Stewart ($3.26).
Least expensive Georgia metro markets – Catoosa-Dade-Walker ($3.12), Dalton ($3.17), and Augusta-Aiken ($3.18).
