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Georgia Gas Prices Increase Amid National Average Rises

Gas station display showing gas prices in Georgia

News Summary

Gas prices in Georgia have seen a slight increase as the national average also rises. The current average is $2.94 per gallon, which is still significantly lower than last year’s prices. Factors such as the transition to summer blend gasoline and varying prices across cities influence these changes. Overall, Georgia’s average remains lower than the national average, with some regions enjoying even lower prices.

Georgia Gas Prices See Slight Increase as National Average Rises Amid Tariff Concerns

As we enter a new week, drivers in Georgia are experiencing a slight uptick in gas prices. The current average for regular unleaded gasoline stands at $2.94 per gallon, which reflects a modest increase of five cents from the previous week. It’s noteworthy that this price point is still a significant 41 cents lower compared to last year’s figures.

Cost of Filling Up

For motorists with a typical 15-gallon tank, the average expenditure now is around $44.10. This amount is nearly $7 less than what drivers were paying at this time last year, offering a small relief to budgets.

Factors Influencing Prices

Montrae Waiters, a representative from AAA, explains that usually, gas prices dip when demand is low and crude prices are down. However, this trend has not held since several factors are currently at play. Refineries are in the process of shifting to producing summer blend gasoline, which, while more costly to produce, is optimized for warmer weather conditions.

Comparison with National Average

Georgia’s average gas price remains 18 cents lower than the national average of $3.12 per gallon. Within the state, the metro averages vary: Savannah boasts the highest at $2.98, followed closely by Atlanta at $2.94 and Athens at $2.93.

Lowest Prices in Georgia

On the other end of the spectrum, some regions are enjoying lower gas prices. Areas like Dalton at $2.77, Albany at $2.76, and the Catoosa-Dade-Walker area at $2.68 are offering the best deals, providing a more budget-friendly option for drivers.

National Trends

Nationally, gas prices have also seen a five-cent increase over the past week, breaking a trend of price stability. Interestingly, gasoline demand has decreased from 9.18 million barrels per day to 8.81 million barrels, while the total domestic supply has seen a slight reduction from 241.1 million barrels to 240.6 million barrels. Despite lower demand, U.S. gasoline production has ramped up to 9.6 million barrels per day.

Crude Oil Prices

In terms of crude oil, West Texas Intermediate (WTI) saw a slight increase, settling at $67.16 per barrel last Wednesday, up by 26 cents. Crude oil inventories have also risen by 1.7 million barrels, leading to a current total of 437 million barrels, which remains approximately 5% below the five-year seasonal average.

Electric Vehicle Charging Costs

For those with electric vehicles, the national average price at public charging stations has stabilized at 34 cents per kilowatt hour. For efficient planning, utilizing tools such as the TripTik Travel planner can help drivers identify charging prices along their routes, ensuring both convenience and economy.