AAA: GEORGIA GAS PRICES INCREASE 4 CENTS AT THE PUMP

AAA: GEORGIA GAS PRICES INCREASE 4 CENTS AT THE PUMP

ATLANTA, GA., (December 7, 2020) — Georgia gas prices increased at the pump compared to a week ago. Georgia motorists are now paying an average price of $2.00 per gallon for regular unleaded gasoline. Monday's state average is 4 cents more than a week ago, 7 cents more than last month, and 43 cents less than this time last year.

It now costs motorists $30.00 to fill a 15-gallon tank of gasoline; that is $11.10 less than what motorists paid in April of 2019, when pump prices hit their peak of $2.74 per gallon.

"As demand continues to decline into the winter driving season, Georgians should expect gas prices to remain lower when compared to last year's pump prices, moving into 2021," said Montrae Waiters, spokeswoman, AAA – The Auto Club Group.

SUSTAINED INCREASE IN CRUDE PRICES HELPS TO LIFT NATIONAL AVERAGE, ALBEIT LIKELY TEMPORARILY

Since last Monday, the national average for a gallon of regular gasoline has increased by 4 cents to $2.16. Since mid-November, domestic daily crude prices have steadily increased toward $45 per barrel, contributing to pump prices rising across the country in just this last week. However, low demand will likely limit price gains, with the latest report from the Energy Information Administration (EIA) showing that demand decreased from 8.13 million barrels a day to 7.97 million barrels a day last week – the lowest reading since early June.

OIL MARKETS DYNAMICS

At the close of last Thursday's formal trading session, WTI increased by 36 cents to settle at $45.64. Crude prices increased that week amid growing market optimism that vaccines for the coronavirus will be available in the coming weeks. However, the current surge in the number of infections domestically appears to have capped crude oil price gains while states increase measures meant to stop the spread of the virus. Additionally, the increase in prices was supported by EIA's weekly report revealing that total domestic crude inventories fell by 700,000 barrels to 488 million barrels last week.

REGIONAL PRICES

Atlanta ($2.00)

• Most expensive Georgia metro markets – Savannah ($2.05), Hinesville-Fort Stewart ($2.04) and Brunswick ($2.03).
• Least expensive Georgia metro markets – Rome ($1.91), Catoosa-Dade-Walker ($1.92), and Warner Robins ($1.95).

CURRENT AND PAST PRICE AVERAGES (Regular Unleaded Gasoline)

Gas Price Survey Methodology
AAA updates fuel price averages daily at www.GasPrices.AAA.com. Every day up to 130,000 stations are surveyed based on credit card swipes and direct feeds in cooperation with the Oil Price Information Service (OPIS) and Wright Express for unmatched statistical reliability. All average retail prices in this report are for a gallon of regular, unleaded gasoline.

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About AAA - The Auto Club Group

The Auto Club Group (ACG) is the second largest AAA club in North America with more than 14 million members across 14 U.S. states, the province of Quebec and two U.S. territories. ACG and its affiliates provide members with roadside assistance, insurance products, banking and financial services, travel offerings and more. ACG belongs to the national AAA federation with more than 60 million members in the United States and Canada. AAA's mission is to protect and advance freedom of mobility and improve traffic safety. For more information, get the AAA Mobile app, visit AAA.com, and follow us on Facebook, Twitter and LinkedIn.