The Georgia gas price average declined at the pumps compared to a week ago.
Georgians pay an average of $2.70 per gallon for regular unleaded gasoline. Monday’s state average is 4 cents less than a week ago, 29 cents less than a month ago, and 39 cents less than last year.
Georgia Gov. Brian Kemp also suspended the motor fuel tax amid the hurricanes. The suspension is set to expire on Wednesday.
“Hurricane Milton caused chaos on Florida shores; fortunately, pump prices continued their downward trend in Georgia,” Montrae Waiters, AAA-The Auto Club Group spokeswoman, said in a release. “In the interim, crude oil prices increased due to the ongoing conflict in the Middle East. Normally, this would cause gas prices to rise; however, because the dollar’s strength has weighed on oil prices, the increase in gas prices was kept at bay.”
Since last Monday, the national average for a gallon of regular gasoline increased by 2 cents to $3.20. Like Hurricane Helene, Hurricane Milton did not severely impact national gasoline supplies.
However, it did affect demand in areas with destroyed infrastructure, flooded roads, and power outages. Overseas, the tension between Iran and Israel continues, which is causing a slow wobbling in the price of oil but no steady upward movement.
According to new data from the Energy Information Administration, gas demand surged from 8.52 million barrels a day last week to 9.65. Meanwhile, total domestic gasoline stocks plunged from 221.2 million barrels to 214.9, while gasoline production increased last week, averaging 10.2 million barrels daily.