Georgia gas prices are up this week compared to a week ago, according to the auto club AAA.
Georgia drivers are now paying an average of $2.73 per gallon for regular unleaded, which is 3 cents more than a week ago and 13 cents more than this time last month, AAA said. However, drivers are only paying 1 cent more than this same time last year.
Motorists are paying an average of $40.95 for a full 15-gallon tank of gasoline, a discount of $1.05 from when prices were their highest last May.
“Gasoline prices nationwide continue to rise,” said Montrae Waiters, a spokeswoman for AAA. “The market price for crude and gasoline are major factors as well as local supply and demand.”
The most expensive metro markets in Georgia were Atlanta at $2.79 per gallon, Athens at $2.76 and Gainesville at $2.75.
The least expensive metro markets were Albany at $2.61 per gallon, Columbus at $2.59 and Warner Robins at $2.59.
In its latest weekly petroleum report, the Energy Information Administration revealed that while demand decreased slightly to 9.41 million barrels per day last week, the rate is more than 325,000 barrels per day higher than where it was last year at this time, AAA said.
Alongside healthy demand, total domestic stocks of gasoline fell by 2.2 million barrels to 225.8 million last week — 11 million barrels lower than the total stock level during this same week in 2018. Two other contributing factors are the switch over to more expensive-to-produce summer blend gasoline and reduced gasoline production as a result of maintenance at refineries across the country, AAA said.
As a result, American motorists should expect increased pump prices as demand remains robust and stocks dwindle.