Gas prices in Georgia have seen a slight decline this week, with the average price for regular unleaded gasoline now at $2.99 per gallon, a 1-cent drop compared to last week.
This is 2 cents higher than a month ago and 15 cents lower than this time last year. Filling up a 15-gallon tank now costs drivers an average of $44.85, nearly $3 less than a year ago.
“This is a reminder to drivers that we are experiencing a seasonal impact, transitioning from winter gas to the spring mixture, igniting the inevitable rise in prices, as the summer-grade fuel demands a heftier manufacturing cost,” AAA spokeswoman Montrae Waiters said. “Good news for Georgians is that we saw a modest dip at the pumps; however, we can’t predict that there won’t be higher gas prices this week.”
National gas prices hold steady
On a national level, gas prices have remained largely unchanged. The average cost of regular gasoline across the U.S. stands at $3.14 per gallon, a slight decrease of 1 cent since last week. Data from the Energy Information Administration (EIA) shows a reduction in gasoline demand, dropping from 8.57 million barrels per day to 8.23 million barrels. The total domestic gasoline supply also fell slightly, from 248.1 million barrels to 247.9 million.
Oil Market
The price of crude oil saw a minor increase, settling at $72.25 per barrel last Wednesday. The EIA reports that U.S. crude oil inventories grew by 4.6 million barrels, although they remain about 3% below the five-year average for this time of year. As the market continues to adjust, these oil price movements may influence future gasoline costs at the pump.
