Montrae Waiters, spokeswoman for AAA – The Auto Club Group, reports that after dropping, prices at the pump are on the rise again.
In a Monday morning press release, AAA stated that Georgia gas prices increased 3 cents at the pump compared to this time last week.
The price is now an average of $2.43 per gallon for regular unleaded. The state average has risen 3 cents.
Still, prices on this date are nine cents less that the same time last month, and 21 cents cheaper than last year.
“Last week, more than half of all states saw gas prices decrease,” said Waiters in the press release. “Due to ongoing maintenance and tighter gasoline supply, motorists can expect fluctuations at the pump likely through the end of the week.”
Why have prices increased?
AAA gave the following description of the national gasoline price environment and outlook:
The national average price for regular unleaded gasoline is $2.61 per gallon, which is the same price as last week, 4 cents less than a month ago, and 17 cents less than a year ago. Domestic demand for gasoline climbed last week as stocks continue to decline, according to new data from the Energy Information Administration (EIA). EIA’s latest weekly report shows that demand for gasoline grew from 9.59 million barrels to 9.78 million barrels last week. This latest rate is approximately 520,000 barrels higher than last year’s rate at this time. Growing demand, amid tight gasoline supplies, has contributed to a nominal increase in the national average – one cent since Monday.
Cobb County gasoline prices
The average price in Cobb County is $2.487 for a gallon of regular unleaded as of publication of this article, slightly above the statewide average.
It is always possible to find lower gas prices than the average by comparison shopping or using tools like http://gasbuddy.com.
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.