ATLANTA — Georgia gas prices increased slightly at the pump compared to a week ago. Georgia motorists are now paying an average price of $2.43 per gallon for regular unleaded. Monday’s state average is 2 cents more than a week ago, 2 cents more than last month, and 3 cents more than this time last year.
It now costs $36.45 to fill a 15-gallon tank of gasoline. That is $6.15 less than what motorists paid in May 2018, when pump prices hit their peak of $2.84 per gallon.
“Gas prices have been fluctuating as of late, but are currently cheaper than the national average at this time last year, giving Americans a little extra money to spend on travel and motivating millions to take road trips,” said Montrae Waiters, spokeswoman, AAA–The Auto Club Group. “For the majority of Americans, AAA expects gas prices to be fairly similar to last year’s Thanksgiving holiday, which averaged $2.57.”
Crude oil prices have increased slightly this week due to reports that the Organization of the Petroleum Exporting Countries (OPEC) and its partners will likely decide to extend their production reduction agreement through the middle of 2020 at OPEC’s upcoming meeting in Vienna on December 5 and 6. Price gains were limited by continued market fear that the trade war between China and the U.S. — the world’s two largest crude consumers — will reduce crude demand moving into next year. In related news, the Energy Information Administration (EIA) weekly report showed that total domestic crude inventories increased by 1.4 million barrels last week, bringing the new total to 450.4 million barrels. The current level is 3.5 million barrels higher than last year’s level at this same time.
• Most expensive Georgia metro markets — Atlanta-Savannah ($2.48), Athens-Savannah ($2.45), and Gainesville ($2.44).
• Least expensive Georgia metro markets — Catoosa-Dade-Walker ($2.29), Augusta-Aiken ($2.32) and Dalton ($2.33).
Florida gas prices are holding steady, but could increase, as 2.6 million Floridians prepare to take a Thanksgiving road trip. Although it’s no guarantee, drivers may see pump prices rise 5-10 cents this week, based on recent increases in the price of wholesale gasoline.
“Even if gas prices do rise this week, a 5-10 cent increase is not likely to cause Floridians to cancel their travel plans,” said Mark Jenkins, spokesman, AAA -The Auto Club Group. “If the state average returns to $2.45 per gallon, it’d be the same price motorists paid during last year’s holiday. Additionally, it’s nearly the same price Floridians paid a month ago — when most people were finalizing their travel plans. However, if the state average remains less than $2.45, Thanksgiving travelers in Florida would be paying the lowest gas prices for the holiday in three years.”
Despite the upward pressure, market fundamentals could easily change course early this week, allowing pump prices to hold steady through the holiday. Florida drivers are currently paying $2.36 per gallon. The state average is a half-cent less than a week ago, 6 cents less than last month, and 7 cents less than this time last year.
Florida drivers are paying 44 cents less than the highest daily average price of the year, set back in April.
• Most expensive metro markets — West Palm Beach - Boca Raton ($2.50), Panama City ($2.48), Tallahassee ($2.47)
• Least expensive metro markets — Tampa-St. Petersburg-Clearwater ($2.26), Orlando ($2.28), Jacksonville ($2.31)