Gas prices dip ahead of Thanksgiving

Monday, November 20, 2023–9:36 a.m.

-AAA South-

Georgia’s gas price average continues a downward trend ahead of the Thanksgiving holiday. Georgia drivers are now paying an average price of $2.82 per gallon for regular unleaded gasoline (subject to change overnight).

Monday’s state average is 3 cents less than a week ago, 21 cents less than a month ago, and 30 cents less than this time last year. It now costs an average of $42.30 to fill a 15-gallon tank of regular gasoline. Georgians are now paying $4.50 less to fill up at the pump compared to a year ago.

“Good news drivers, gas prices continue to decrease at the pump ahead of Turkey Day,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “Governor Kemp’s extension of the gas tax suspension until November 29th, and lower crude oil prices continue to be the driving force reducing gas prices, which is sure to help Georgians manage the high cost of food and travel this holiday.”

Local averages on Monday were $2.72 in Floyd County, $2.71 in Gordon County, $2.73 in Polk County, $2.79 in Bartow County, and $2.55 in Chattooga County.

Time to Talk Turkey and Lower Gas Prices

Since last Monday, the national average for a gallon of regular gasoline decreased by 5 cents to $3.31 (subject to change overnight). With Thanksgiving fast approaching (and maybe the in-laws), the national average for a gallon of gas is steadily declining. According to new data from the Energy Information Administration (EIA), gas demand decreased from 9.49 to 8.95 million barrels a day last week. The EIA’s estimate for demand is unusually high for early November, but when the EIA releases monthly demand data in a few weeks, it could be revised. Meanwhile, total domestic gasoline stocks decreased by 1.5 million barrels to 215.7 million barrels. Lower gas demand, alongside declining oil prices, has contributed to pushing pump prices down. If gas demand and the cost of oil remain low, drivers can expect further pump prices to drop ahead of Thanksgiving.