Georgia gas prices continue to decline

Monday, October 23, 2023–9:48 a.m.

-AAA South-

Georgia drivers are now paying an average price of $3.01 per gallon for regular unleaded gasoline, which is 6 cents less than a week ago, 31 cents less than a month ago, and 20 cents less than this time last year. 

It now costs an average of $45.15 to fill a 15-gallon tank of regular gasolineGeorgians are paying an average of $3.00 less to fill up at the pump compared to a year ago.

Local averages on Monday were $2.89 in Floyd County, $2.87 in Gordon County, $2.80 in Chattooga County, $2.94 in Bartow County and $2.97 in Polk County.

“Less expensive winter blend fuel, lower seasonal demand, and Governor Kemp’s suspension of the state’s gas tax continues to drive pump prices down in the state of Georgia,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman.

As the Leaves Fall, so Do Gas Prices

Since last Monday, the national average for a gallon of regular gasoline decreased by 5 cents to $3.55. Despite global tensions causing ripples through the oil market, the national average for a gallon of gas maintained its autumnal dip. Pump prices have lost 32 cents since their 2023 peak of $3.88 a month ago. This means drivers are saving about $5 every time they fuel up.  

According to data from the Energy Information Administration (EIA), gas demand increased from 8.58 to 8.94 million barrels a day last week. On the other hand, total domestic gasoline stocks decreased by 2.4 million barrels to 223.3 million barrels. Although higher demand and tightening supply typically increase pump prices, flat oil prices have had the opposite effect. If oil prices remain steady or fall, drivers can expect further price drops at the pump in the weeks ahead.    

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