AAA: Gas Prices Drop Another 6 Cents




AAA: GEORGIA’S WEEKLY GAS DEMAND CONTINUES DESCENT

ATLANTA, GA., (April 13, 2020) — Georgia gas prices  continues to decrease at the pump compared to a week ago. Georgia motorists are now paying an average price of $1.71 per gallon for regular unleaded gasoline. Monday’s state average is 6 cents less than a week ago, 43 cents less than last month, and 94 cents less than this time last year.

It now costs motorists $25.65 to fill a 15-gallon tank of gasoline; that is $15.45 less than what motorists paid in April of 2019, when pump prices hit their peak of $2.74 per gallon.

Gas prices are positioned to see continued decreases in the week ahead,” said Montrae Waiters, spokeswoman, AAA – The Auto Club Group. “With Americans expected to remain at home, demand for gas is likely to continue declining alongside pump prices.”

Crude Oil

Since last Monday, the national average for a gallon of regular gasoline has decreased by 7 cents to $1.86. Low crude prices due to COVID-19 and lower demand for gas, have helped to push pump prices lower. In its latest weekly report, the Energy Information Administration (EIA) reported that gas demand plunged to 5.1 million barrels a day from the previous week’s rate of 6.7 million barrels a day. Crude prices remained volatile last week, following the announcement of a tentative crude production reduction agreement between the Organization of the Petroleum Exporting Countries (OPEC) and other major crude oil producers, including Russia.

Final details are still pending, but the collective effort is expected to cut global crude production by 10 million barrels a day for May and June 2020, while 8 million a day could be cut for the remaining months in 2020. Crude prices will likely remain volatile until the market sees the final details of the historic agreement.

Regional Prices

Atlanta ($1.70)

  • Most expensive Georgia metro markets –Hinesville-Fort Stewart ($1.91), Brunswick ($1.87) and Savannah ($1.81).
  • Least expensive Georgia metro markets – Dalton ($1.44), Rome ($1.52) and Warner-Robins ($1.60).   

 




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