Mar 1, 2023 - News

Metro Atlanta gas prices dip after spike in 2022

Data: GasBuddy; Note: Price as of the 1st of each month; Chart: Axios Visuals

Metro Atlanta drivers spent an average of $3.24 for every gallon of gas in February, per GasBuddy data. That's down 7% year over year, but up 6% from January’s average price of $3.06.

  • Nationally, gas cost about $3.40/gallon in February — down 6% year over year, but up 2% from January.

Why it matters: More than three-quarters of American commuters drive to and from work, meaning they're particularly sensitive to the ebbs and flows of prices at the pump — especially as other basic goods also get more expensive.

By the numbers: 76% of commuters in metro Atlanta drive to work alone, according to a 2019 survey by the Atlanta Regional Commission.

Driving the news: Crude oil prices have fallen over the past year, leading to cheaper automotive gas.

  • A barrel of West Texas Intermediate crude — a common industry benchmark — costs around $76 as of late February, down from about $122 in June 2022.
  • Oil prices spiked last year amid uncertainty over Russia's invasion of Ukraine and the economic sanctions against Russia — a major oil producer — that followed.

Zoom in: San Francisco has among the country's highest average gas prices, at $4.76 per gallon in February.

  • Houston drivers are paying some of the cheapest prices nationwide, at just $2.93/gallon.

The big picture: Cheaper gas is good news for American consumers, especially commuters.

Yes, but: Lower prices may disincentivize drivers from switching to more efficient cars, going electric, or embracing public transit — all of which can have big environmental benefits.


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