Monday, August 13, 2023–10:10 a.m.
-David Crowder, WRGA News-
Georgia drivers saw a little relief at the pump as gas prices declined by 3 cents from a week ago.
The statewide average is now at $3.63 per gallon for regular unleaded.
That is still 35 cents more than a month ago, and 11 cents more than this time last year.
It now costs almost $55.00 to fill a 15-gallon tank of regular gasoline. Drivers are paying almost $2.00 more to fill up at the pump compared to a year ago.
“Finally the recent spike in gas prices across Georgia has started to slow down over the past few days,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “The summer heat that suppressed refinery production appears to have eased for now, so we must look towards the cost of oil to determine if the recent price climb is ending, so stay tuned.”
Local averages on Monday were $3.55 in both Floyd County and Polk County.
The average price in Gordon County was $3.58.
The lowest average was in Chattooga County at $3.48 a gallon.
The highest was in Bartow County at $3.60.
National Gas Price Average Increased Slightly
Since last Monday, the national average for a gallon of regular gasoline has only increased by 2 cents to $3.84. Nationally, the gas price average has been hovering around $3.82 for almost two weeks, a noteworthy length for price stability. This lack of price movement came despite an uptick in gas demand and rising oil prices approaching the mid-$80s per barrel.
According to data from the Energy Information Administration (EIA), gas demand jumped from 8.84 to 9.30 million barrels a day last week. Meanwhile, total domestic gasoline stocks decreased from 219.1 to 216.4 million barrels. Higher demand, amid tighter supply, kept pump prices elevated. If gas demand remains high, and oil prices continue to rise, drivers should brace for increases in pump prices.