Slight gasoline price decline

Kroger gas station on Concord Road and South Cobb Drive in article about gasoline prices remaining steadyKroger gas station on Concord Road and South Cobb Drive (the photo was taken last year, so the prices are outdated)-- photo by Larry Felton Johnson

There was a slight gasoline price decline statewide in Georgia over the past week.

According to a press release from AAA Auto Club Group, “Georgia gas prices decline at the pump compared to a week ago. Georgia motorists are now paying an average price of $2.65 per gallon for regular unleaded gasoline. Monday’s state average is 2 cents less than a week ago, 2 cents more than this time last month, and 5 cents less than this time last year.”

That translates into $39.75 to fill a 15-gallon tank, $2.85 less than what drivers paid at the peak of 2018 gasoline prices in May of last year.

“Georgia pump prices saw a slight decrease this week,” said Montrae Waiters, spokeswoman,AAA – The Auto Club Group. “The market price for crude and gasoline are major factors as well as local supply and demand.”

Cobb County’s average price

The AAA website puts the average price of unleaded regular gasoline in Cobb County this morning at $2.717 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 did prices decline?

AAA cited the Energy Information Administration’s (EIA) report for the week ending on July 12, which attributed the drop to growth in domestic stocks of gasoline combined with a drop in demand.

The press release stated, “If demand remains low and supplies continue to grow, motorists will likely continue to see prices level out at the pump moving into next week.”

How does AAA determine gasoline price

AAA updates fuel price averages daily atwww.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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