The national average price for regular unleaded gasoline hit their highest price point of 2018 on Saturday at $2.663 per gallon. Today's average is a half cent more than last week, 13 cents more than a month ago, and 28 cents more than last year. Gas prices have edged higher this week following the Energy Information Administration’s latest weekly report that showed gasoline stocks dropped by 1.1 million barrels last week. Additionally, demand for gasoline continues to remain robust at 9.2 million barrels a day as the spring driving season kicks off, which saw demand measured at 9.25 million barrels a day at the same time in 2017. Drivers are likely to continue seeing prices increase as stations across the country begin to switchover to the more expensive summer blend ahead of the busy driving season.

"Supply and demand are the biggest factors driving the price at the pump," said Garrett Townsend, Georgia Public Relations Director, AAA - The Auto Club Group. "More motorists on the roadways, tight supply, and record crude exports have the potential for higher prices as we head into the spring."

At the close of Friday’s formal trading session on the NYMEX, West Texas Intermediate crude oil decreased $1.48 to settle at $62.06. WTI has taken a hit alongside the equities market in the U.S. According to EIA reports, crude exports hit a record high of 15.2 million barrels last week. Domestic crude production also hit a record high 10.5 million barrels a day last week, which contributed to the U.S. shipping more oil to other countries.

Regional Gas Prices

Georgia gas prices are down fractions of a penny from last week's average at $2.575 per gallon. Georgia gas prices hit their highest point of the year on April 2nd ($2.58). Currently motorists in the state are paying 16 cents more than one month ago and 30 cents more than this same time last year.

Gas prices had the most expensive start to April in four years, averaging $2.58 during the first 8 days of the month - an increase of 35 cents from April 2017.

The most expensive gas price averages in Georgia are in Hinesville-Fort Stewart ($2.63), Brunswick ($2.63), Savannah ($2.61)

The least expensive gas price averages in Georgia are in Catoosa-Dade-Walker ($2.48), Dalton ($2.50), and Warner Robbins ($2.51)