Georgia gas prices are holding steady compared to a week ago. Drivers in the state continue to pay an average of $2.68 per gallon for regular unleaded which is 16 cents less than the national average. That amounts to $40.20 for a full 15-gallon tank of gasoline. However, drivers are only paying two cents more than this same time last year.
“High-drive seasons, such as, Memorial Day and July 4 are also times when gas prices may fluctuate,” said Montrae Waiters, spokesperson, AAA – The Auto Club Group. “AAA forecasts the national average should peak at around $2.75.”
In its latest weekly petroleum status report, the Energy Information Administration (EIA) released new data that shows a slight decrease in demand. The estimate is approximately 9.42 million b/d, a decline of nearly 0.4 million b/d from the previous week. EIA also reported that total gasoline inventories dropped by 1.2 million barrels and crude oil inventories dropped by 1.4 million bbl. Crude imports to the U.S. also slowed, the most recent week's import rate of 5.992 million b/d is almost 2 million b/d lower than they saw the same week last year. Should crude oil and gasoline stocks continue to drop and supply tighten then drivers could see gas prices continue to rise in the coming weeks.
The nation’s top 10 least expensive markets are: Alabama ($2.504), Mississippi ($2.517), Arkansas ($2.536), Louisiana ($2.537), South Carolina ($2.537), Texas ($2.576), Virginia ($2.587), Missouri ($2.596), Oklahoma ($2.604) and Tennessee ($2.607).
The nation’s top 10 most expensive markets are: California ($4.024), Hawaii ($3.596), Washington ($3.444), Oregon ($3.345), Nevada ($3.323), Alaska ($3.247), Arizona ($3.026), Pennsylvania ($2.986), Illinois ($2.984) and Washington, D.C. ($2.922).