COVINGTON, Ga. — Georgia’s average pump price reached $4.29 per gallon for unleaded gasoline this week, which was the highest price ever recorded by AAA.
The state’s record average fuel prices were up 32 cents compared to more than a week ago and 96 cents compared to one month ago. At the same time last year, the state average was $2.68. Atlanta was home to the highest prices, averaging $4.32 per gallon, according to AAA.
As of Thursday afternoon, the state’s average had decreased by a few cents, dropping to $4.24. Newton County’s average was slightly above average at $4.25. Neighboring counties of Henry, Rockdale and Walton were also $4.25 or higher. Butts, Jasper and Morgan counties were all listed $4.23 or lower.
The biggest reason for increased fuel prices nationwide is attributed to the cost of oil, and the continued conflict between Ukraine and Russia has brought uncertainty to the market, AAA spokesperson Montrae Waiters said. Since the New Year, the national average has continued a steady climb due to strained supply and increased demand. But Russia’s invasion of Ukraine in late February caused oil prices to spike further. These are numbers not seen at the pump since the financial crisis in 2008, the highest on record just recently.
After peaking at about $123 per barrel shortly after Russia’s invasion of Ukraine, the price of crude oil, though at a gradual rate, has fallen to below $110 this week. If this trend continues, it may remove some of the extreme upward price pressure consumers have found at the pump, AAA spokesperson Andrew Gross said, but not all.
“It bears reminding that the cost of oil accounts for about 50% of what drivers pay at the pump,” Gross said. “This war is roiling an already tight global oil market and making it hard to determine if we are near a peak for pump prices, or if they keep grinding higher. It all depends on the direction of oil prices.”
With increased prices, it now costs Georgia motorists nearly $65 to fill a 15-gallon tank of regular gasoline, compared to just under $40 one year ago.
Diesel fuel prices also reached a record high, climbing to $5.27 per gallon this week, but also dropped slightly. According to AAA, the average cost statewide for diesel was $5.15.
AAA officials offered various tips for drivers to save money and conserving fuel:
• Shop around for gas prices.
• Consider paying in cash vs. credit card. Some retailers charge extra per gallon for customers who pay with a credit card.
• Enroll in fuel savings programs.
• Maintain your vehicle to ensure optimal fuel economy.
• Combine errands to limit driving time.
• Slow down. Fuel economy diminishes significantly at highway speeds above 50 mph.
• Drive conservatively and avoid aggressive driving. Aggressive acceleration and speeding reduces fuel economy.
“Georgians are paying more than they ever have for gasoline and are looking for ways to spend less at the pumps,” Waiters said in a news release. “There are simple ways to get the most for your money when you fill-up. To start with, ensure your vehicle is properly maintained, so you get optimal fuel economy. Unfortunately, drivers should anticipate gas prices to remain high for weeks to come.”
