Georgia gas prices down three cents

Monday, May 20, 2024–8:30 a.m.

-AAA South-

Georgia gas prices are down another three cents compared to a week ago.

Georgians are paying an average price of $3.38 per gallon for regular unleaded gasoline.

Monday’s state average of $3.18 is also 5 cents less than a month ago, but 12 cents more than this time last year. 

It costs drivers an average price of $50.70 to fill a 15-gallon tank of regular gasoline. Georgians are now paying almost $1.00 less to fill up at the pump compared to a month ago.

Local averages on Monday, according to AAA, were $3.27 in Floyd County, $3.30 in Gordon County, $3.32 in Bartow County, and $3.34 in Polk County.

Chattooga County had the lowest average at $3.21 a gallon.

“The drop in gas prices over the weekend was a welcome relief to Georgians,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “Crude oil prices, which play a key role in determining what consumers pay at the pump continue to fluctuate. If crude remains low, typically gas prices will do the same. However, an uptick in demand nearing Memorial Day weekend may cause gas prices to rise.”

The National Gas Price Average Continues to Deflate

Since last Monday, the national average for a gallon of regular gasoline decreased by 2 cents to $3.59 (subject to change overnight). The primary reasons are weak domestic demand and oil costs below $80 a barrel. According to data from the Energy Information Administration (EIA), gas demand rose modestly from 8.79 million barrels a day to 8.87 last week. Meanwhile, total domestic gasoline stocks decreased slightly from 228 to 227.8 million barrels.  Lackluster pre-Memorial Day demand and steady or falling oil prices could lower pump prices. 

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