Gas prices continue downward trend: AAA
Published 8:54 am Wednesday, June 5, 2019
Georgia gas prices continue to decline at the pump compared to a week ago. Georgia drivers are now paying an average of $2.57 per gallon for regular unleaded — 4 cents less than a week ago, 15 cents less than a month ago, and 25 cents less than this time last year. Motorists are paying an average of $38.55 for a full 15-gallon tank of regular gasoline; a discount of $3.45 from when prices were their highest last May.
As of Tuesday, pump prices in Crisp County averaged $2.576 per gallon, according to AAA’s daily online price tracker (gasprices.aaa.com). Dooly County customers paid $2.515 on average, and Wilcox County drivers paid an average $2.629 per gallon.
“Gas prices have been trending lower now for the past month and there are no signs of pump prices changing gears toward more expensive for the summer season as anticipated,” said Montrae Waiters, spokeswoman, AAA- The Auto Club Group. “One major indicator supporting this forecast is the price of crude oil which last week dropped by $6 to $53/bbl, which is one of the lowest prices of the year.”
Gas prices across the South and Southeast states are among the cheapest in the country selling, on average, for $2.57 or less, with the exception of New Mexico ($2.69). The states with the cheapest averages in the region and the county are: Mississippi ($2.39), Louisiana ($2.39), Alabama ($2.41), South Carolina ($2.43), Arkansas ($2.46), Texas ($2.48) and Oklahoma ($2.55).
On the week, Texas (-5 cents), Georgia (-4 cents) and Louisiana (-4 cents) saw the largest pump price drops in the region. Following behind are Florida, Mississippi and South Carolina with gas price declines of three cents since last Monday. All other states saw smaller declines or averages held steady.
The region continues to see declines at the pump thanks to a steady build of gasoline stocks, which increased by 1.2 million bbl according to the latest EIA data. With refinery utilization at 95% and stocks totaling 84.7 million bbl — a nearly 6 million bbl year-over-year surplus — motorists in the South and Southeast can expect gas prices to push lower in the coming weeks.