07
June
2020
|
23:00 PM
America/Chicago

AAA: Georgia Pump Prices Jump 4 Cents

NEWS RELEASE

MEDIA CONTACT:


Montrae Waiters, AAA spokeswoman, The Auto Club Group
Cell (813) 244-0815
Mwaiters@acg.aaa.com

GEORGIA
AVERAGE PRICE PER GALLON
$1.79 (+ 4¢)

AAA: Georgia Pump Prices Jump 4 Cents


ATLANTA, GA., (June 8, 2020) — Georgia gas prices increased at the pump compared to a week ago. Georgia motorists are now paying an average price of $1.79 per gallon for regular unleaded gasoline. Monday's state average is 4 cents more than a week ago, 17 cents more than last month, and 75 cents less than this time last year.

It now costs motorists $26.85 to fill a 15-gallon tank of gasoline; that is $14.25 less than what motorists paid in April of 2019, when pump prices hit their peak of $2.74 per gallon.

"All South and Southeast states saw pump prices increase," said Montrae Waiters, spokeswoman, AAA – The Auto Club Group. "The good news is that gas continues to be fairly cheap. Georgians can fill-up for $2/gallon or less at gas stations across the state."

National Gas Average Increases Alongside Demand

Since last Monday, the national average for a gallon of regular gasoline is $2.02, which is 5 cents higher than a week ago. According to new data from the Energy Information Administration (EIA), demand grew slightly from 7.3 million barrels a day to 7.5 million barrels a day last week. The increase in demand has occurred alongside an increase in the national average. If this trend continues, motorists will likely see pump prices continue to move higher.

At the close of last Thursday's formal trading session, WTI increased by 12 cents to $37.41 per barrel. Domestic crude prices have been volatile as the market awaits a potential announcement from the Organization of the Petroleum Exporting Countries (OPEC) on additional steps to reduce crude production amid the COVID-19 pandemic, which has lowered global crude demand. OPEC and other large crude producers, including Russia, are implementing a 9.7 million barrels a day crude production reduction agreement for May and June 2020, but the future of the agreement is uncertain. As market uncertainty over the agreement increases, crude prices will likely remain volatile.

Regional Prices

Atlanta ($1.76)

  • Most expensive Georgia metro markets – Brunswick ($1.91), Savannah ($1.88) and Valdosta ($1.87).
  • Least expensive Georgia metro markets – Athens ($1.73), Rome ($1.74) and Catoosa-Dade-Walker ($1.75).

CURRENT AND PAST PRICE AVERAGES (Regular Unleaded Gasoline)

Sunday

Saturday

Week Ago

Month Ago

One Year Ago

2019 Low

2019 High

Record High

National

$2.02

$2.01

$1.97

$1.81

$2.77

$2.23 (January)

$2.90 (May)

$4.11 (7/17/2008)

Georgia

$1.79

$1.78

$1.75

$1.62

$2.54

$2.04 (January)

$2.74 (April)

$4.16 (9/15/2008)

Click here to view current gasoline price averages

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.

Visit the AAA Georgia Newsroom

Twitter @AAAGeorgia

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.