AAA: Georgia Gas Price Average Continues to Climb

Staff Report

Tuesday, January 24th, 2023

 Georgia gas price average rose at the pump compared to a week ago. Georgia drivers are now paying an average price of $3.25 per gallon for regular unleaded gasoline (subject to change overnight). Monday's state average is 19 cents more than a week ago, 52 cents more than a month ago, and 12 cents more than this time last year. It now costs $48.75 to fill a 15-gallon tank of regular gasoline. Drivers are now paying almost $2.00 more to fill up at the pump compared to a year ago.

“Several factors are contributing to the rise in gas prices across the state, such as the reinstatement of the state’s gas tax, an uptick in demand, and concerns that the global oil supply possibly will be impacted by Russia’s escalation of the war in Ukraine,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman.

Robust Gas Demand Bucks Seasonal Trend, Pushing Pump Prices Higher

Since last Monday, the national average for a gallon of regular gasoline has increased by 11 cents to $3.41. According to data from the Energy Information Administration, gas demand rose from 7.56 to 8.05 million barrels a day last week. Despite the messy West Coast weather, a mild winter elsewhere in the nation may have led to more drivers getting behind the wheel. Meanwhile, total domestic gasoline stocks increased by 3.5 million barrels to 230.3 million barrels. Rising gas demand has contributed to higher pump prices. If demand remains robust, drivers will likely see pump prices increase through the week.
At the close of Wednesday’s formal trading session, WTI decreased by 70 cents to settle at $79.48. Crude prices took a slight step back due to lingering economic concerns that a recession could occur this year. If economic growth stalls or reverses course, oil demand will likely decline, and prices will follow suit. 

Regional Prices:

Atlanta: $3.23

Most expensive Georgia metro markets – Brunswick ($3.35), Hinesville-Fort Stewart ($3.33) and Valdosta ($3.31).

Least expensive Georgia metro markets – Dalton ($3.20), Gainesville ($3.19), and Catoosa-Dade-Walker ($3.17).