The price of gasoline in Georgia continued to drop this week despite the holiday travel rush.
Automotive group AAA said the average price for a gallon of unleaded gas in Georgia was $2.70 on Sunday, a decrease of 8 cents compared to last week and 40 cents less than what motorists in the Peach State paid this time last year.
Gas prices have been on a steady decline in Georgia for the past six months. Crude oil and gas prices spiked following Russia’s invasion of Ukraine and increased global demand following the depths of the pandemic.
AAA said it now costs $40.50, on average, to fill a 15-gallon tank with regular unleaded, about $6 less than what a motorist would have paid a month ago.
“Georgia remains one of the states in the U.S. with low gas prices ahead of the New Year,” Montrae Waiters, a AAA spokeswoman, said Monday in a news release. She cited Gov. Brian Kemp’s longstanding order to suspend the state’s gas tax, increasing supplies of fuel and lower overall demand as key factors for lower fuel prices here.
Kemp put a pause on the state’s 29.1-cent-per-gallon gas tax in March, but he has announced that the tax will return next month.
Falling prices for fuel provided at least a little financial cushion this holiday season amid stubborn inflation. The Federal Reserve has hiked its benchmark interest rate to tamp down high prices, which has led to a cooling of the economy.
The national average Monday was $3.10-per-gallon for regular unleaded, AAA said.
In metro Atlanta, the average price was $2.76, the auto club said.
Statewide, the areas with the lowest prices for regular unleaded were Warner Robins ($2.46-per-gallon), Albany ($2.52) and the tri-county area of Catoosa, Dade and Walker ($2.57) in northwest Georgia.
A little less pain at the pump
Average price Sunday of a gallon of regular unleaded in the U.S.: $3.10
Georgia average price Sunday: $2.70
U.S. average a month ago: $3.57
Georgia average a month ago: $3.06
U.S. record high: $5.01 (June 14, 2022)
Georgia record high: $4.49 (June 15, 2022)
Source: AAA. Prices are for a gallon of regular unleaded gas.
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