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Georgia Gas Prices Start the Summer Season Lowest in 12 Years

Monday, June 26th, 2017

Gas prices started the summer travel season averaging the lowest price in 12 years. Since June 1, Georgia gas prices averaged $2.18 - 6 cents less than the same period last year, and the lowest since 2005 ($2.05). 

June 1 - June 25 2017 2016 2005
National $2.33 $2.35 $2.13
Georgia $2.18 $2.24 $2.05

"Lower gas prices will make it more enticing for Americans to take extended, or more frequent road trips this summer," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "And when travelers spend less at the pump, they are left with extra cash to spend on lodging, shopping, and dining out."

Gas prices in Georgia averaged $2.12 on Sunday, yet motorists are finding gas prices well below $2 a gallon at some service stations. 

Georgia ranks 13th among states with the lowest daily average price for gasoline. Sunday's state average was the lowest since December 2016. 

The Georgia average price declined for the 29th consecutive day on Sunday, for a total discount of 11 cents during that time. 

The state average dropped 4 cents during the past week, according to AAA, whose data is collected from credit card swipes and direct feeds from 120,000 gas stations nationwide, in cooperation with OPIS and Wright Express. 

  • The most expensive gas price averages in Georgia are in Atlanta ($2.15), Savannah ($2.15), and Albany ($2.07)
  • The least expensive gas price averages in Georgia are in Augusta-Aiken ($2.00), Macon ($2.04), and Columbus ($2.06)

"Oil prices moved even lower last week, dragging gas prices down with them," Jenkins said. "Oil prices are having a hard time stabilizing amid fears that oversupply will continue dominating market. The slump at the pump is not over yet. Prices are falling at a steady rate, and motorists should see another round of discounts this week."

Gas Price Tools for Reporters/Consumers

  • GasPrices.AAA.com - Daily national, state, and metro gas price averages. 
  • AAA Mobile app - Free app that shows current prices at a gas station near you. 

Summer Gas Prices will Rival Those from 2016

  • The Georgia average for gasoline was $2.11/g from June 1 - August 31, 2016. The state average fell from $2.28 in June, to as low as $1.98 in early August.
  • Gasoline prices declined in line with the falling price of crude. Daily WTI settlements dropped from $51.23 in June, to as low as $39.51 in early August.
Fuel Fundamentals
(Based on weekly data provided by the EIA)
  • Crude oil prices averaged the lowest in 10 months
  • U.S. crude inventories decreased by 2.5 million barrels (0.5%) to 509.1 million, but remain 1.8% higher than last year
  • Domestic crude production rose by 20 barrels, averaging 7.1 percent higher than last year
  • Refineries continue running strong, operating at 94 percent capacity 
  • Wholesale gasoline is down 2 cents from the week before 
  • Domestic gasoline production increased last week, averaging 10.2 million barrels per day. 
  • Gasoline supplies inched lower nationwide, but higher in the Gulf Coast
  • Gasoline demand surged 5.9 percent higher than the week before, but remains 1.6 percent lower than this time last year

                     

                             CURRENT AND PAST PRICE AVERAGES

                                                    Regular Unleaded Gasoline

Sunday Saturday Week Ago Month Ago One Year Ago Highest Price on Record
National $2.265 $2.270 $2.296 $2.372 $2.311 $4.114 (7/17/2008)
Georgia $2.118 $2.124 $2.160 $2.224 $2.182 $4.164 (9/15/2008)
Click here to view current gasoline price averages