Monday, December 11, 2023–9:40 a.m.
-AAA South-
Georgia’s gas price average dropped at the pump. Georgia drivers are now paying an average price of $3.03 per gallon for regular unleaded gasoline. Monday’s state average is 3 cents less than a week ago, 16 cents more than a month ago, and 13 cents more than this time last year. It now costs an average of $45.45 to fill a 15-gallon tank of regular gasoline. Georgians are now paying $2.40 more to fill up at the pump compared to a month ago.
“Georgians felt some relief at the pumps this weekend,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “Increasing supply and steady gasoline demand have contributed to pushing pump prices lower. As demand stays low and stocks grow, drivers will likely continue to see pump prices decrease this week.”
Local averages on Monday were $2.97 in Floyd County, $2.98 in Bartow County, $2.90 in Chattooga County, and $2.96 in both Gordon County and Polk County.
An Early Holiday Gift- Lower Gas Prices
Since last Monday, the national average for a gallon of regular gasoline has decreased by 9 cents to $3.15 (subject to change overnight). The main reason is a weaker cost for oil, which is struggling to stay above $70 per barrel. The falling price comes just a week after OPEC+ announced voluntary production cuts of about 2 million barrels daily. But instead of viewing it as coal in the stocking, the oil market response has thus far been a resounding “meh.”
According to data from the Energy Information Administration (EIA), gas demand increased slightly from 8.21 to 8.47 million barrels a day last week. Meanwhile, total domestic gasoline stocks increased significantly by 5.4 million barrels to 223.6 million barrels. Despite low gas demand, supply growth has helped push pump prices lower. If oil prices remain low, drivers can expect pump prices to do the same during the holiday season.
