Georgia drivers are seeing relief at the pump as gas prices continue to drop, according to auto club AAA.
The average price for a gallon of regular unleaded gasoline in the state is now $2.88, a decrease of four cents from last week. That’s also 11 cents less than a month ago and 53 cents cheaper than this time last year.
Currently, it costs drivers approximately $43.20 to fill up a 15-gallon tank — nearly $8.00 less than one year ago.
“Crude oil continues to trend under $80 a barrel, and demand appears to have slowed down, contributing to lower pump prices,” said Montrae Waiters, spokeswoman for AAA-The Auto Club Group.
National trends
Across the U.S., gas prices are also trending downward. The national average for regular unleaded has dipped three cents over the past week to $3.13 per gallon. Analysts attribute the decrease to a slowdown in demand as the spring travel season winds down and before summer travel begins in earnest.
Temperatures may be rising, but gas prices are not.
OPEC+, the coalition of oil-producing nations, announced plans to increase output in June. The move is expected to widen the current supply surplus, potentially leading to further declines in crude oil prices and, in turn, lower costs at the pump for summer road trippers.
According to the latest data from the U.S. Energy Information Administration (EIA), gasoline demand fell from 9.09 million barrels per day to 8.71 million. Meanwhile, total domestic gasoline stocks saw a slight uptick, increasing from 225.5 million barrels to 225.7 million.
