Gas prices continue to drop in metro Atlanta; down 53 cents from last year

ATLANTA - Gas prices in Atlanta have dropped again this week, continuing a downward trend that reflects both short-term relief at the pump and longer-term declines from the record highs seen during the pandemic and recovery period.

What we know:

According to GasBuddy’s latest survey of more than 2,100 stations in the metro area, the average price for a gallon of regular unleaded is now $2.87—a 3.6-cent decrease from last week and 14 cents lower than it was just a month ago. Compared to this time last year, Atlanta drivers are now paying 53.2 cents less per gallon.

The drop in prices follows a national pattern. Across the U.S., the average price of gasoline has fallen 4.2 cents over the past week to $3.08 per gallon. Diesel prices are also down nationally, now averaging $3.47 per gallon, which is near the lowest level since 2021.

In Georgia, the average statewide price is slightly below Atlanta’s, at $2.83 per gallon, down 5.5 cents from last week. Neighboring markets showed mixed changes, with prices in Macon falling to $2.80 and Chattanooga seeing a small increase to $2.64.

Despite a recent $4-per-barrel increase in oil prices, industry analysts expect continued price stability heading into Memorial Day. "Forty states have seen average gasoline prices fall over the last week," said Patrick De Haan, head of petroleum analysis at GasBuddy. "I don’t expect any significant changes to the national average, with prices staying near their lowest seasonal level since 2021."

Gas prices since 2015

What we know:

A decade of GasBuddy data shows how much the price at the pump has changed for Atlanta drivers. The current average of $2.87 is more than a dollar lower than the $3.94 peak recorded in May 2022. It's also a sharp contrast to pandemic lows, when prices bottomed out at just $1.63 per gallon in May 2020.

Here’s how Atlanta’s average gas price on May 12 has changed over the past 10 years:

• 2024: $2.87
• 2023: $3.25
• 2022: $3.94
• 2021: $3.00
• 2020: $1.63
• 2019: $2.72
• 2018: $2.72
• 2017: $2.20
• 2016: $2.20
• 2015: $2.61

Currently, the cheapest gas in Atlanta is $2.47 per gallon, while the highest price is $3.49—a range of $1.02.

Big picture view:

With refinery maintenance wrapping up and summer travel season approaching, prices may see modest fluctuations in the coming weeks, but for now, Atlanta drivers are enjoying some of the most affordable spring fuel prices in years.