Gasoline prices likely to continue upward trend

Kroger gas station on Concord Road and South Cobb Drive in article about two cent drop in gas prices over the past weekKroger gas station on Concord Road and South Cobb Drive (the photo was taken last year, so the prices are outdated)-- photo by Larry Felton Johnson

Gas prices in Georgia rose seven cents per gallon over the past week, and are likely to continue to rise, according to a press release from AAA.

According to the press release, Georgia motorists now pay an average price of $2.67 per gallon for regular unleaded gasoline. While today’s state average is 7 cents more than last Monday and 19 cents more than this time last month, the price is still 5 cents less than this time last year.

“Georgia gas prices continue upward trend,” said Montrae Waiters, spokeswoman, AAA – The Auto Club Group. “If stocks continue to decrease as demand remains robust, pump prices will likely continue to rise throughout the week.” 

Cobb County’s average price

The AAA website puts the average price of unleaded regular gasoline in Cobb County this morning at $2.75 per gallon.

It is always possible to find lower gas prices than the average by comparison shopping or using tools like http://gasbuddy.com.

Why are prices rising?

According to AAA:

Growing demand and shrinking gas stocks are contributing to pump price increases seen since the Fourth of July, according to new data released by the Energy Information Administration (EIA). For the week ending on July 5, EIA’s data revealed that total domestic stocks fell by 1.4 million bbl to 229.2 million bbl. The current level is 10 million bbl lower than where it was at this point in 2018. Demand grew to 9.8 million bbl from the previous week’s 9.5 million bbl, which is in line with the rate in early July 2018.

How does AAA determine gas prices?

AAA explains it’s methodology for collecting data on gasoline prices at the pump as follows:

AAA updates fuel price averages daily at www.GasPrices.AAA.com. Every day up to 130,000 stations are surveyed based on credit card swipes and direct feeds in cooperation with the Oil Price Information Service (OPIS) and Wright Express for unmatched statistical reliability. All average retail prices in this report are for a gallon of regular, unleaded gasoline.

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