December 9, 2019–8:10 a.m.
Georgia gas prices declined at the pump compared to a week ago. Georgia motorists are now paying an average price of $2.42 per gallon for regular unleaded gasoline. Monday’s state average is 2 cents less than a week ago, 1 cent less than last month, and 20 cents more than this time last year.
It now costs $36.30 to fill a 15-gallon tank of gasoline. That is $6.30 less than what motorists paid in May of 2018 when pump prices hit their peak of $2.84 per gallon.
“Gasoline stocks have steadily increased the past few weeks as gasoline demand has started to slow,” said Montrae Waiters, spokeswoman, AAA – The Auto Club Group. “This trend is creating cheaper gas prices for the majority of motorists.”
Slightly higher crude prices in December 2018 help to account for the year-over-year price difference. Total domestic gasoline stocks grew for the fourth straight week, according to new data from the Energy Information Administration (EIA). Stock levels increased by 3.4 million barrels, bringing the total to 229.4 million barrels, which is 3.1 million barrels higher than last year’s level at this same time. In EIA’s latest weekly report, gasoline demand dropped from 9.20 million b/d to 9.03 million b/d, which is slightly higher than last year’s 8.88 million b/d during the same week. Stock growth, amid robust demand, has helped to stabilize the national average.
Local Averages on Monday
Floyd County – $2.33
Bartow County – $2.35
Chattooga County – $2.31
Gordon County – $2.34
Polk County – $2.44