Monday, October 14, 2024–9:15 a.m.
-AAA South-
Georgia gas prices declined at the pumps compared to a week ago.
Monday’s average for regular unleaded gasoline was $2.70 a gallon, 4 cents less than a week ago, 29 cents less than a month ago, and 39 cents less than last year.
Drivers pay an average of $40.50 to fill a 15-gallon tank of regular gasoline. Georgians are paying almost $5.00 less to fill up at the pump than a month ago.
On Monday, local averages were $2.65 in Floyd County and Gordon County, $2.64 in Bartow County and Polk County, and $2.52 in Chattooga County.
“Hurricane Milton caused chaos on Florida shores; fortunately, pump prices continued their downward trend in Georgia,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “In the interim, crude oil prices increased due to the ongoing conflict in the Middle East. Normally, this would cause gas prices to rise; however, because the dollar’s strength has weighed on oil prices, the increase in gas prices was kept at bay.”
Nationally
Pump Prices Shifted Higher as Hurricane Milton Wreaked Havoc
Since last Monday, the national average for a gallon of regular gasoline increased by 2 cents to $3.20 (subject to change overnight). Like Hurricane Helene, Milton did not severely impact national gasoline supplies but did affect demand in areas with destroyed infrastructure, flooded roads, and power outages. Overseas, the tension between Iran and Israel continues, which is causing a slow wobbling in the price of oil but no steady upward movement.
According to new data from the Energy Information Administration (EIA), gas demand surged from 8.52 million barrels a day last week to 9.65. Meanwhile, total domestic gasoline stocks plunged from 221.2 million barrels to 214.9, while gasoline production increased last week, averaging 10.2 million barrels daily.