According to a press release from Montrae Waiters, spokeswoman for AAA – The Auto Club Group, Georgia prices at the pump dropped an average of 4 cents per gallon of regular unleaded over the past week.
According to the announcement, “Georgia motorists are now paying an average price of $2.40 per gallon for regular unleaded gasoline. Monday’s state average is 4 cents less than a week ago, 2 cents more than last month, and 30 cents more than this time last year.”
“A healthy and growing level of domestic gasoline stocks alongside decreasing demand are two factors helping to minimize gas price fluctuations,” said Waiters, “This is a welcome relief to Georgia motorists.”
Reasons for the price decline
AAA attributes the national drop in average gasoline prices to a rise in total domestic stocks of gasoline, and reduced demand due to colder weather.
“Last week, gas demand hit 8.56 million barrels, according to new data from the Energy Information Administration (EIA),” the news release stated. “The current rate of demand is in line with last year’s rate seen in mid-January, a time that typically brings lower demand due to winter weather. EIA’s data also revealed that total domestic stocks of gasoline grew by 6.7 million barrels last week, bringing the total to 258.3 million barrels. “
Cobb County gasoline prices
The average price of a gallon of unleaded gasoline in Cobb County this morning is $2.38, two cents less than 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.