Monday, January 8, 2023–12:17 p.m.
-AAA South-
Georgia gas prices are continuing their downward trend.
Georgia drivers are now paying an average price of $2.97 per gallon for regular unleaded gasoline.
Monday’s state average is 2 cents less than a week ago, 9 cents less than a month ago, but 15 cents more than this time last year.
It now costs an average of $44.55 to fill a 15-gallon tank of regular gasoline. Georgians are now paying $1.35 less to fill up at the pump compared to a month ago.
“Now that the holiday season is in our rearview mirror, fewer Georgians are filling up at the pump,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “Low demand appears to be the driving force lowering prices at the pump. Drivers can anticipate pump prices to ebb and flow in January.”
Like Holiday Decorations, Gas Prices Are Coming Down
Since last Monday, the national average for a gallon of regular gasoline has decreased by 4 cents to $3.07. One reason could be lower demand, as fewer people are fueling up after the peak of holiday road travel. According to data from the Energy Information Administration (EIA), gas demand nosedived from 9.17 to 7.95 million barrels a day last week.
Meanwhile, total domestic gasoline stocks increased substantially by 10.9 million barrels to 237 million barrels. Weak gas demand, alongside increased supply, has pushed pump prices lower. However, rising oil prices have limited price decreases. If gas demand remains weak, drivers will likely continue to see pump prices trickle downward.