Another 14-cent drop in gas prices

The cheapest prices in the region Monday were in Chattooga County.

Georgia gas prices continue to decline at the pump. The average price fell another 14 cents last week.

Drivers in Georgia are paying an average price of $3.63 per gallon for regular unleaded gasoline, as of Monday morning. Monday’s state average is 63 cents less than last month, although that’s still 66 cents more than this time last year.

It now costs $54.45 to fill a 15-gallon tank with regular gasoline. Drivers are now paying an average of $9 more at the pump than last year for the fill-up.

“Crude prices fell last week as market concerns about weakening demand and an economic slowdown persisted,” said Montrae Waiters, AAA-THE Auto Club Group spokeswoman. “Lower gas prices at the pump are a welcome relief to Georgians who are impacted by the rising cost of living.” Local averages as of Monday: Floyd: $3.57.

Bartow: $3.58.

Gordon: $3.47.

Polk: $3.57.

Chattooga: $3.39.

Georgia’s gas tax remains on hold through Sept. 12; it represents a discount of 29.1 cents per gallon.

Since Aug. 1, the national average for a gallon of regular gasoline had decreased by 16 cents to $4.06 as of Monday morning. According to the Energy Information Administration, gas demand dropped from 9.25 million barrels a day to 8.54 million barrels a day last week. The rate is 1.24 million barrels a day lower than last year and is in line with demand at the end of July 2020, when COVID-19 restrictions were in place and fewer drivers hit the road. Moreover, according to EIA, total domestic gasoline stocks increased slightly by 200,000 barrels to 225.3 million barrels.

If gas demand remains low and stocks continue to rise alongside falling crude prices, drivers will likely continue to see pump prices decrease, according to AAA.