According to a press release from Montrae Waiters, spokeswoman, AAA – The Auto Club Group, Georgia gas prices increased once again at the pump, compared to last week.
Georgians now pay an average price of $2.01 per gallon for regular unleaded gasoline. Georgia’s average is “2 cents more than a week ago, 10 cents more than last month, and 65 cents less than this time last year.”
“Pump prices in Georgia are still relatively cheap compared to last summer,” said Waiters. “But there are still concerns regarding recent uptick in new COVID-19 cases, and how this will impact gasoline prices in the coming week.”
Cobb County gasoline prices
The average price in Cobb County is $1.987, roughly 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.
The press release described the national trends as follows:
Since last Monday, the national average for a gallon of regular gasoline holds steady at $2.19. According to new data from the Energy Information Administration (EIA), total domestic gasoline supplies decreased by 3.1 million barrels last week, bringing the current level to 248.5 million barrels. As supplies tighten, prices could continue to rise, depending on demand. Last week, demand for gasoline fell slightly from 8.77 million barrels a day to 8.65 million barrels a day.
At the close of last Thursday’s formal trading session, WTI decreased by 45 cents to settle at $40.75. Domestic crude prices fell after EIA’s weekly report revealed that total domestic crude inventories decreased by 7.5 million barrels to 531.7 million barrels. Decreasing crude stocks could mean that crude production is beginning to meet demand and could reduce price volatility, as coronavirus outbreaks continue to grow worldwide.
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.