Georgia drivers continue to see relief at the pump as average gas prices dipped again this week. The average price for regular unleaded gasoline in the state is now $2.92 per gallon, according to AAA-The Auto Club Group—down 6 cents from last week.
Though prices remain slightly higher than a month ago by 2 cents, they’re a notable 51 cents cheaper than this time last year.
Filling up a 15-gallon tank now costs drivers approximately $43.80, nearly $8.00 less than a year ago.
“Lately, oil prices have taken a dive, presumably swayed by uncertainty about the economy and worries about a recession sneaking up on us,” AAA spokesperson Montrae Waiters said. “Because of this, demand is down, and we have not seen crude oil prices this low in several years. If we continue this trend, we could keep seeing pump prices drop as we roll into summer.”
National prices trend lower
Nationally, gas prices are also trending downward in an unusual seasonal slide. The average price for a gallon of regular gasoline has dropped 3 cents since last Monday, now standing at $3.15.
Data from the Energy Information Administration (EIA) shows a modest rise in gasoline demand, inching up from 8.42 to 8.46 million barrels per day. Despite the slight increase, total domestic gasoline supply dropped by 2 million barrels to 234 million, while production rose to an average of 9.4 million barrels per day.
With crude oil prices remaining low and demand still soft, analysts say drivers may continue to benefit from falling fuel costs as the summer travel season approaches.
