ATLANTA – Georgia gas prices have been falling by as much as 1 cent per day, and AAA says we could be seeing $2-a-gallon gas prices this summer.
“It does appear we could be reaching that level,” said Garrett Townsend, spokesman for AAA in Georgia. “It’s reasonable to expect gas prices in Georgia to be around the $2.13 mark as we approach Memorial Day.”
Townsend said many refineries are at maximum output right now and demand has been lower than expected.
On Thursday, Georgia gas prices averaged $2.23 - according to AAA. Since peaking at $2.28 in April, the state averaged has declined for 18 consecutive days, for a total discount of 5 cents during that time.
The Georgia average is 3 cents less than a week ago, but remains 4 cents more than this time last year.
Gas prices on Cinco de Mayo averaged $2.19 in 2016, $2.50 in 2015, and $3.67 in 2014.
- The most expensive metro markets are Savannah ($2.27), Valdosta( $2.24), and Atlanta ($2.24)
- The least expensive metro markets are Augusta ($2.16), Macon ($2.19), Athens ($2.23)
"A lack of confidence in crude has led to a downturn in oil prices," said Townsend. "Meanwhile, the wholesale gasoline market is getting hammered this week, due to nearly record-high refinery operations and demand levels that were weaker than expected.
“These falling prices will continue delivering steady discounts at the pump, and the state average should push down into the $2.15’s in the next week or two,” he said. “If current wholesale and spot prices stick around, motorists could start seeing various Georgia service stations selling gasoline at $2 or less a gallon by the summer."