SAVANNAH, Ga. (WSAV) — As many have noticed it’s costing more to fill up their gas tanks, due in part to the Russia-Ukraine conflict.
But according to AAA, gas is trending down now but it’s hard to say how long it can last. When you look at these prices, believe it or not, they’re less than a week and a half ago.
AAA said the average price of gas in Georgia is $3.95 a gallon, and WSAV found some local prices even lower. Gas has gone down about 19 cents.
Two main things affect prices — first, demand.
“One of the things impacting prices going down is demand,” said Montrae Waiters, AAA the Auto Club Group. “And we’re contributing demand being low because gas prices are still elevated.”
Then there’s the price of crude oil.
“Unfortunately, we just don’t know how long this trend is going to continue because the price of crude oil has been trending at 105 to 110 dollars within the last couple of days,” Waiters said. “The cost of crude oil accounts for about half the cost of gas at the pump. While AAA says the cost here has been going lower, it still costs about 60 dollars to fill up a 15 gallon gas tank with regular unleaded.”
While crude oil prices are uncertain, one thing that should help dropping the state gas tax, which will take 29 cents off a gallon of gas.
A spokesman for the governor said up to half of that should be in effect now or in the near future as retailers begin to sell gas that costs them less. But still these prices are high.
“We can’t predict the market is still very volatile right now we just don’t know,” Waiters said.
AAA says it’s too soon to know how Easter and summer vacations will be affected. For now, it urges drivers to shop around for the best price and drive less to conserve gas.