Gas prices take downward turn

Monday, February 26, 2024–11:48 a.m.

-AAA South-

Georgia’s gas price average finally takes a turn at the pump.

Georgia drivers are paying an average price of $3.13 per gallon for regular unleaded gasoline which is 3 cents less than a week ago.

Monday’s state average is 12 cents more than a month ago and 3 cents less than this time last year. It now costs an average of $46.95 to fill a 15-gallon tank of regular gasoline. Georgians are now paying almost 50 cents less to fill up at the pump compared to a year ago.

“Georgians felt some relief at the pumps this weekend,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “The announcement that the BP-Whiting refinery in Indiana will reopen soon, had a positive impact on prices at the pump. Unfortunately, we cannot predict if gas prices will rise again this week, so drivers are encouraged to follow AAA money-saving tips listed below.”

Gas Prices Make a Pit Stop

Since last Monday, the national average for a gallon of regular gasoline has decreased by 1 cent to $3.26 (subject to change overnight). News that the large BP-Whiting refinery in Indiana, which has been offline since early February due to power issues is reopening soon and may have contributed to easing pump price nerves. The refinery processes nearly 440,000 barrels of crude daily, and the shutdown caused gasoline prices throughout the Midwest to rise. 

According to data from the Energy Information Administration (EIA), gas demand mostly remained flat at 8.2 million barrels a day last week. Total domestic gasoline stocks declined slightly by 300,000 barrels to 247 million barrels. Flat demand, amid falling supply, has helped to stabilize the national average this week.

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