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AAA EXPECTS LOWER GAS PRICES IN 2019

Written by Matt Davis on January 7, 2019. Posted in Uncategorized

Prices at the pump are off to their lowest start to the month of January since 2016, according to AAA, The Auto Club Group, which reports that gas prices in Georgia dropped another three cents last week. The state’s average has now declined a total of 74 cents since October. 

Georgia drivers are now paying an average price of $2.06 per gallon, marking the lowest daily average price since August 2016.  Many filling stations in the state are selling gas at below $2 a gallon, including here in Rome.

In 2018, Georgia’s gas prices averaged $2.59 per gallon for regular unleaded.  That was 30 cents per gallon more than the year prior and the highest annual average price since 2014. 

The national average price for gasoline is $2.24 per gallon, the lowest daily average since July 2017.  On average, Americans are paying 67 cents less per gallon than they did three months ago, amounting to savings of $10 for a full 15-gallon tank of gasoline.

Overall, AAA expects the national average to remain below last year’s high of $2.97, set just before Memorial Day.  In 2018, US gas prices averaged $2.72 per gallon; AAA projects that aveage to land somewhere in the $2.50s for this year. 

AAA Spokesman Mark Jenkins indicates, “Motorists should expect low gas prices to linger through January, as gasoline demand is typically the lowest of the year.  Although pump prices could become somewhat volatile this month, drivers will notice a significant increase in the spring, with the upward trend beginning as early as February.”

Jenkins continues, “Putting global supply and demand fluctuations aside, gas prices often rise 30-70 cents in the spring, as gasoline demand increases, refiners conduct seasonal maintenance, begin to switch to a more expensive-to-produce summer blend gasoline. AAA expects pump prices to peak around $2.75 this year, but there is higher potential if a hurricane threatens gulf coast refineries, or there are sizable swings in fuel supplies or the economy.”

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