Monday, July 31, 2023–9:23 a.m.
-David Crowder, WRGA News-
Georgia gas prices are up 19 cents compared to a week ago.
Georgia drivers are now paying an average price of $3.55 per gallon for regular unleaded gasoline.
Monday’s state average is 33 cents more than a month ago, but still 23 cents less than this time last year.
It now costs an average of $53.25 to fill a 15-gallon tank of regular gasoline. Drivers are paying almost $4.00 less to fill up at the pump compared to a year ago.
“The steady increase of crude oil prices and refineries having to adjust production because of soaring temperatures causes pump prices to elevate,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “The cost of oil accounts for more than 50% of what we pay at the pumps, Georgians may not catch a break regarding gas prices any time soon if crude oil continues to rise.”
Local averages on Monday were $3.48 in Floyd County, $3.47 in Chattooga County, $3.53 in Gordon County, $3.55 in Bartow County, and $3.54 in Polk County.
Like the Sizzling Temperatures, Gas Prices Climb Higher
Since last Monday, the national average for a gallon of regular gasoline has increased by 16 cents to $3.75 (subject to change overnight). The primary cause appears to be the oil price, which has marched nearly $4 higher in the past week to hover near $80 per barrel. According to data from the Energy Information Administration (EIA), gas demand rose slightly from 8.86 to 8.94 million barrels a day. Meanwhile, total domestic gasoline stocks dipped from 218.4 to 217.6 million barrels. With supplies tight, if demand should spike, pump prices will follow suit.