ATLANTA – Sunday is a day of rest, and a good day to fill-up the tank in Georgia as gas prices threaten to challenge summertime travel.
Right now, the price of regular unleaded is $2.72 a gallon in Georgia, which is 49-cents a gallon more than a year ago.
A study by GasBuddy reveals that Sunday is the day you’re most likely to find the cheapest gasoline prices at the pump, while Thursday is a good day to avoid a fill-up.
11Alive’s Why Guy Jerry Carnes talked to GasBuddy’s Patrick Dehaan, who explains the price at the pump is not always as simple as supply and demand.
The price of crude oil drives the price you pay at your favorite gas station. Crude is a commodity that draws investors on the commodity market. Investments in oil futures, or the projection of the future price of crude, can impact the price on a daily basis.
Those investors take the weekend off, which allows the price of crude to settle. According to Dehaan, gas stations feel comfortable enough to lower prices at the pump. In many cases, the price is at its lowest by Sunday or Monday.
Thursday is the worst day to buy gasoline here in Georgia. On Wednesdays, according to Dehaan, U.S. Energy Information System comes out with new data concerning the nation’s crude oil inventories. That announcement often influences prices, driving them upward by Thursday.
According to AAA, if President Trump decides to pull out of the Iran Nuclear Deal, it will likely reinstate sanctions that would reduce crude supply and result in higher fuel prices.