Monday, July 17, 2023–9:04 a.m.
-David Crowder, WRGA News-
Georgia gas prices are up slightly from a week ago.
Georgia drivers are now paying an average price of $3.27 per gallon for regular unleaded gasoline, which is a penny more than a week ago, but still 2 cents less than a month ago and 79 cents less than this time last year.
It now costs an average of $49.05 to fill a 15-gallon tank of regular gasoline. Drivers are paying almost $12.00 less to fill up at the pump compared to a year ago.
Local averages on Monday were $3.22 in Floyd County, $3.25 in Bartow County, $3.19 in Gordon County, $3.20 in Polk County, and $3.18 in Chattooga County.
“Georgia pump prices have crept higher since the 4th of July holiday,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “The main culprit is a higher price for oil, which moved from the upper $60s per barrel recently to the mid-$70s.”
Higher Cost of Oil Nudges Gas Prices Higher
Since last Monday, the national average for a gallon of regular gasoline has increased by 3 cents to $3.56 (subject to change overnight). According to data from the Energy Information Administration (EIA), gas demand decreased significantly from 9.6 to 8.76 million barrels a day last week. Meanwhile, total domestic gasoline stocks stayed flat at 219.5 million barrels. Although lower gas demand typically pushes pump prices lower, rising oil prices have lifted them. If oil prices continue to rise, pump prices will likely follow suit.