Georgia gas prices are declining after oil prices suffered big losses during the week. The average price for gasoline in Georgia dropped for the 15th consecutive days for a total discount of 3 cents since May 27.  

The average price for a gallon of regular unleaded in Georgia was $2.20 on Sunday, according to AAA, whose data is collected from credit card swipes and direct feeds from 120,000 gas stations nationwide, in cooperation with OPIS and Wright Express. The Georgia average is 1-cent less than a week ago and 7 cents less than this time last year.

The most expensive gas price averages in Georgia are in Atlanta ($2.23), Savannah ($2.21), Columbus ($2.16)

The least expensive gas price averages in Georgia are in Augusta-Aiken ($2.08), Macon ($2.12), and Albany ($2.14)

The national average price for gasoline dropped for the 9th consecutive day on Sunday, falling a total of 4 cents since June 2

On Friday, the average price dropped below year-ago levels for the first time in 204 days

Sunday's national average of $2.34 was 4 cents less than both last week and this time last year

Falling Oil Prices Push Pump Prices Lower

"Unexpected growth in oil and gasoline supplies sent prices into a downward spiral," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "Oil prices plunged to lows that should translate to a total discount of 5-10 cents at the pump, but motorists shouldn’t expect that discount to hit overnight. It usually takes a week or two before gas prices fully adjust to major shifts on the crude oil market."

Last month, OPEC extended production cuts in hopes of balancing the oil market. Yet it appears the market glut is getting worse, according to the latest supply data from the government, thanks in large part to increased production in the United States. Crude inventories unexpectedly rose for the first time in nine weeks, increasing 3.3 million barrels per day to a total of 513.2 million barrels. Meanwhile, gasoline stocks grew for the first time in five weeks, by nearly 3 million barrels. Both stock levels are well above last year's levels.

All this growth, combined with weaker demand figures, pushed oil prices to their lowest point in five weeks. Thursday's daily settlement of $45.64 was the lowest since May 4, 2017. The weekly average of $46.56 was the lowest since November 2016. Oil prices have fallen $4 since Labor Day weekend.

*Highs and Lows of 2017*

The highest national average price for gasoline, so far this year, is $2.42 on April 21; the lowest is $2.26 on February 9.

The highest average price in Georgia, so far this year, is $2.29 on April 14; the lowest is $2.16 on March 27.

*Fuel Price Flashback*

On June 12, 2014

The national average price for gasoline was $3.65. Motorists spent nearly $55 to fill an average 15-gallon tank of gas.

The average price for gasoline in Georgia was $3.54. Motorists spent more than $53 to fill an average 15-gallon tank of gas.

Summer Gas Prices will Rival Those from 2016

The national average for gasoline was $2.23/g from June 1 - August 31, 2016.

The Georgia average for gasoline was $2.11/g from June 1 - August 31, 2016