AAA: Georgia Gas Price Average Lackluster Movement
Tuesday, May 16th, 2023
Georgia gas price average increased at the pump compared to a week ago. Georgia drivers are now paying an average price of $3.26 per gallon for regular unleaded gasoline (subject to change overnight).
Monday's state average is 2 cents more than a week ago, 13 cents less than a month ago, and 71 cents less than this time last year. It now costs $48.90 to fill a 15-gallon tank of regular gasoline. Drivers are now paying almost $2.00 less to fill up at the pump compared to last month.
“The lackluster movement can be attributed to higher demand for gasoline but a lower cost for oil canceling each other out,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “As long as the oil cost keeps wobbling around the low to mid $70s per barrel, Georgians may benefit when they fuel up at the pump ahead of Memorial Day travel.”
National Gas Price Average Treading Water for Now
Since last Monday, the national average for a gallon of regular gasoline has decreased by 1 cent to $3.53 (subject to change overnight). According to data from the Energy Information Administration (EIA), gas demand grew substantially from 8.62 to 9.30 million barrels a day. The spike is higher than some market observers expected; the estimate could be revised when EIA releases final demand measurements for May. Meanwhile, total domestic gasoline stocks decreased by 3.2 million barrels to 219.7 million barrels. Higher demand and a reduction in stocks have slowed pump price decreases.
The most expensive Georgia metro markets – are Savannah ($3.37), Hinesville-Fort Stewart ($3.31), and Augusta-Aiken ($3.29).
The least expensive Georgia metro markets – are Dalton ($3.17), Columbus ($3.16), and Catoosa-Dade-Walker ($3.15).