Gas prices continue to fall

Gas prices in Augusta continue to drop as refineries move past a series of hurricanes that disrupted production.

 

The price of a gallon unleaded regular in Georgia fell nearly nine cents last week, according to GasBuddy’s daily survey of 5,883 gas outlets in Georgia. This compares with the national average that has fallen 6.0 cents per gallon in the last week to $2.47/g, according to gasoline price website GasBuddy.com.

In Augusta, the average price is $2.39 compared to 2.48 last week. That still is 11 cents higher than it was on the same date last year.

“Gas prices have today entered their fourth straight week of declining nationally, a trend unlikely to be interrupted by Hurricane Nate over this past weekend,” said Patrick DeHaan, senior petroleum analyst for GasBuddy. “Gasoline supply has continued to improve and as temperatures begin to feel more fall like, demand for fuel will continue to decline. Hurricane Nate, a fast moving storm, did little to disrupt the flow of fuel to market while having a larger impact on oil rigs. However, the nation continues to be awash in crude oil, so the storm mattered little to oil prices. Look for relief to continue in most of the country while Great Lakes states may see a move higher in the next few days due only to the repetitive price cycling behavior. Nationally, prices still stand about 15 cents per gallon higher than their pre-Harvey level, but the gap will continue to slow as prices slowly trickle down.”

AAA shows a similar trend in its survey. The price for a gallon of unleaded regular in the Augusta-Aiken area was $2.42 Monday, compared to $2.51 last week. In Georgia, a gallon averaged $2.50, compared to $2.61 a week ago.

In South Carolina, prices Monday were $2.32 per gallon unleaded regular compared to last week’s $2.41.

According to GasBuddy historical data, gasoline prices on October 9 in Georgia have ranged widely over the last five years:

$2.28/g in 2016, $2.16/g in 2015, $3.24/g in 2014, $3.22/g in 2013 and $3.58/g in 2012.

Areas near Georgia and their current gas price climate:

Augusta- $2.39/g, down 9.0 cents per gallon from last week’s $2.48/g.

Macon- $2.39/g, down 10.9 cents per gallon from last week’s $2.50/g.

Atlanta- $2.52/g, down 9.7 cents per gallon from last week’s $2.62/g.

 

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Wed, 11/22/2017 - 00:24

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