Georgia Gas Prices Hit New 2018 High

Staff Report From Georgia CEO

Tuesday, April 24th, 2018

Americans are finding some of the most expensive gas prices in years. Sunday's national average of $2.76 per gallon is the highest daily average since July 2015. 

Georgia gas prices set a fresh new 2018-high last week. Saturday's state average of $2.66 is the highest since September, when prices were recovering from hurricanes Harvey and Irma. Sunday's state average of $2.66 is 10 cents less than the national average and 38 cents more than this time last year. 

  • The most expensive gas price averages in Georgia are in Savannah ($2.69), Brunswick ($2.69), and Atlanta ($2.68)

  • The least expensive gas price averages in Georgia are in Warner Robins ($2.57), Catoosa-Dade-Walker ($2.58), Dalton ($2.59)

  • Georgia ranks 31st among states with the highest gas prices

  • It costs $40 to fill an average-sized tank of gasoline

  • Georgia motorists pay $6 more for a full tank of gasoline, compared a year ago

"High oil prices are the main reason gasoline is so expensive right now," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "Crude oil costs about 25% more than last year, as what used to be a global glut of oil, is now tightening. Now the added expense for oil is making it more expensive to produce gasoline. On the gasoline side, demand is strong and inventories are down, as refineries wrap-up their maintenance season and begin pushing out summer-blend fuel, which is more expensive to produce. So there are currently a number of factors keeping upward pressure on gas prices.

"If they haven't already, gas prices should hit their annual peak within the next couple weeks," Jenkins continued. "However, unforeseen circumstances like escalating geopolitical tensions or a hurricane in the Gulf of Mexico would cause prices to surge. Unfortunately, oil prices could still remain elevated heading into the summer travel season. Which means, travelers will likely find the most expensive summer gas prices in four years."

  • Oil prices are $15/b higher than this time last year

  • Half the price of gasoline is determined by the price of oil

  • Oil prices are higher than a year ago due to strong global demand and reduced supply glut

Gas Price Tools for Reporters/Consumers

  • GasPrices.AAA.com - Daily national, state, and metro gas price averages.

  • AAA Mobile app - Free app that shows current prices at a gas station near you.

Highs and Lows of 2018

  • National: the highest average price for gasoline was $2.76 on April 22; the lowest was $2.49 on January 3.

  • Florida: the highest average price was $2.74 on April 20; the lowest was $2.44 on January 2.

  • Georgia: the highest average price was $ on April 21; the lowest was $2.35 on January 2.

  • Tennessee: the highest average price was $2.55 on April 22; the lowest was $2.26 on January 1.

                             CURRENT AND PAST PRICE AVERAGES

                                           Regular Unleaded Gasoline

Sunday Saturday Week Ago Month Ago One Year Ago Highest Price on Record
National $2.761 $2.758 $2.711 $2.575 $2.419 $4.114 (7/17/2008)
Florida $2.739 $2.740 $2.627 $2.531 $2.459 $4.079 (7/17/2008)
Georgia $2.657 $2.658 $2.638 $2.473 $2.283 $4.164 (9/15/2008)
Tennessee $2.553 $2.550 $2.517 $2.368 $2.175 $4.118 (9/15/2008)
Click here to view current gasoline price averages