Prices at the pump increased last week as anticipated, yet pointed lower again on Monday.
Gas prices in Georgia increased 5 cents during the past week. Sunday's state average of $2.77 per gallon is 6 cents more than a month ago, and 54 cents more than last year.
Prices averaged $2.74 per gallon - 56 cents more than the average price last summer.
The most expensive gas price averages in Georgia are in Atlanta ($2.84), Gainesville ($2.82) and Savannah ($2.75)
The least expensive gas price averages in Georgia are in Augusta-Aiken ($2.61), Warner Robins ($2.63) and Columbus ($2.63)
"Prices at the pump have pin balled around this summer, but fortunately have remained within a 20 cent range," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "The limited swings in pump prices and a strong economy has led to one of the biggest driving summers in history. Prices should slip lower this week, due to falling futures prices on the stock market. However, demand historically remains strong through August, which should prevent prices from slipping anywhere near the lows we saw last year."
EIA data released on Wednesday showed signs that the summer driving season remains in full throttle. Weekly gasoline demand numbers reached near record highs. That strong demand has cut deeply into supply levels - which declined five consecutive weeks, for a total decline of nearly five percent. As demand surges, refineries are working hard. Gasoline production for the week ending July 27th, was 2 percent stronger than a year ago, and the fifth-highest weekly rate in history – the highest was the week of Independence Day 2018.
Crude production remains about 16.3 percent stronger than last year. Although oil inventories increased nearly 1-percent, supplies remain 15 percent below last year.Fuel savings tips
Drive sensibly – aggressive driving (speeding, rapid acceleration and braking) wastes gas.
Observe the speed limit. Gas mileage rapidly declines at speeds above 50 mph.
Lose the weight. Using your trunk for storage can cost you by way of lower fuel economy.
Use cruise control. Cruise control on the highway helps you maintain a constant speed. Conversely, constant throttling at high speeds consumes gasoline much faster
Inflate tires. Keeping your tires inflated to the proper pressure can improve your gas mileage up to 3 percent.