March 29th, 2021 – 2:30 PM

AAA – The Auto Club Group –

Georgia gas prices decreased slightly at the pump compared to a week ago. Georgia motorists are now paying an average price of $2.72 per gallon for regular unleaded gasoline. Monday’s state average is 2 cents less than a week ago, 15 cents more than last month, and 86 cents more than this time last year.

It now costs motorists $40.80 to fill a 15-gallon tank of gasoline; that is $3.90 more than what motorists paid in January of 2020, when pump prices hit their peak of $2.46 per gallon.

“A dip in demand along with a simultaneous increase in supply and refinery utilization has contributed to slower movement in gas price increases,” said Montrae Waiters, spokeswoman, AAA – The Auto Club Group. “In the week ahead Georgians may see slight fluctuation at the pump. However, large jumps are not likely to occur.”

 NATIONAL AVERAGE DECREASES FOR FIRST TIME THIS MONTH

Since last Monday, the national average for a gallon of regular gasoline has decreased by 2 cents to $2.86. Growing stock levels have helped to put downward pressure on pump prices, increasing slightly from 232.1 million barrels to 232.3 million barrels last week, according to the latest weekly report from the Energy Information Administration (EIA). The national average decreased despite rising gas demand, which increased from 8.44 million barrels a day to 8.62 million barrels a day last week.

OIL MARKET DYNAMICS

At the close of last Thursday’s formal trading session, WTI decreased by $2.62 to settle at $58.56. Crude prices have decreased due to continuing market concern that crude demand will drop as Europe increases restrictions to curb growing coronavirus infection rates. The decrease in crude prices has also been supported by EIA reporting that total domestic crude inventories increased by 1.9 million barrels to 502.7 million barrels.

REGIONAL PRICES

Atlanta ($2.72)

• Most expensive Georgia metro markets – Hinesville-Fort Stewart ($2.79), Savannah ($2.78), and Brunswick ($2.77).
• Least expensive Georgia metro markets – Catoosa-Dade-Walker ($2.66), Albany ($2.67), and Dalton ($2.68).
• Area gas prices – Chattooga ($2.65), Walker ($2.67), Floyd ($2.69), Gordon ($2.69), DeKalb, AL ($2.68), Cherokee, AL ($2.61)

CURRENT AND PAST PRICE AVERAGES (Regular Unleaded Gasoline)  

	Sunday	Saturday	Week Ago	Month Ago	One Year Ago	2020 Low	2020 High	Record High
National	$2.86	$2.86	$2.88	$2.71	$2.03	$1.76 (April)	$2.59 (January)	$4.11   (7/17/2008)
Georgia	$2.72	$2.72	$2.74	$2.57	$1.86	$1.61 (May)	$2.46 (January)	$4.16   (9/15/2008)
Click here to view current gasoline price averages