Georgia drivers are feeling a slight pinch at the pump this week as gas prices have risen compared to the previous week. The average price for a gallon of regular unleaded gasoline in Georgia is currently $2.94 (subject to change overnight), a 5-cent increase from last week. While the current state average is still 5 cents lower than a month ago and a significant 41 cents lower than this time last year, the upward trend may be concerning to some.

Filling up a 15-gallon tank will cost drivers approximately $44.10, which is still nearly $7.00 cheaper than a year ago. “Typically, gas prices drop if demand is low and crude oil is cheaper. Unfortunately, not this time,” said Montrae Waiters, AAA – The Auto Club Group spokeswoman. “Some refineries are switching to summer blend gasoline, which works better in the heat and costs more to make. However, there is still good news. Georgia drivers are paying 18 cents less than the national average of $3.12.” The national average for a gallon of regular gasoline has also increased by 5 cents over the past week, currently sitting at $3.12 (subject to change overnight). This increase comes despite a decrease in gasoline demand, according to new data from the Energy Information Administration (EIA). Demand fell from 9.18 million barrels daily to 8.81 million barrels. Total domestic gasoline supply also saw a slight decrease, from 241.1 million barrels to 240.6 million. Gasoline production, however, increased, averaging 9.6 million barrels per day.

In the oil market, West Texas Intermediate (WTI) crude oil rose 26 cents on Wednesday, settling at $67.16 a barrel. The EIA also reported an increase in crude oil inventories of 1.7 million barrels from the previous week. U.S. crude oil inventories currently stand at 437.0 million barrels, which is approximately 5% below the five-year average for this time of year. While the slight increase in Georgia gas prices may be a temporary blip due to the switch to summer blend gasoline, drivers will be closely watching the market in the coming weeks to see if the upward trend continues.

The most expensive Georgia metro markets are Savannah ($2.98), Atlanta ($2.94), and Athens ($2.93).

The least expensive Georgia metro markets are Dalton ($2.77), Albany ($2.76), and Catoosa-Dade-Walker ($2.68).

Area gas price averages – Chattooga ($2.81), Walker ($2.71), Floyd ($2.87), Gordon ($2.87), DeKalb, AL ($2.75), Cherokee, AL ($2.71).