Hurricane Laura leads to 5-cent jump in Georgia gasoline price

The coronavirus vaccines might have contributed to a rise in gasoline prices illustrated by photo of Kroger gas station on South Cobb DriveKroger gas station on Concord Road and South Cobb Drive (the photo was taken last year, so the prices are outdated)-- photo by Larry Felton Johnson

Hurricane Laura’s possible effects on oil distribution from the Gulf of Mexico has led to a 5-cent jump in the average Georgia gasoline price over the past week, according to a press release from Montrae Waiters, the spokeswoman for AAA – The Auto Club Group.

“Pump prices increased due to anticipation of the disruption to operations at refineries and gasoline distribution along Hurricane Laura’s path,” said Waiters. “However, lower than usual demand and ample stock levels will contain any significant gas price increases to impacted areas. As damage is assessed, we will have a better idea of how long motorists in impacted areas will see more expensive prices.”

According to the press release:

 Georgia gas prices  increased at the pump compared to a week ago. Georgia motorists are now paying an average price of $2.04 per gallon for regular unleaded gasoline. Monday’s state average is 5 cents more than a week ago, 5 cents more than last month, and 36 cents less than this time last year.

It now costs motorists $30.60 to fill a 15-gallon tank of gasoline; that is $10.50 less than what motorists paid in April of 2019, when pump prices hit their peak of $2.74 per gallon.

Cobb County gasoline prices

The average price in Cobb County is $2.02 as of this morning, 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.

National trends in gasoline prices

According to the press release:

The national gas price average spiked by a nickel on the week to $2.23, but is expected to push cheaper in the week ahead. The second factor pushing prices more expensive in the last week was the Energy Information Administration (EIA) report that gas demand increased from 8.63 million barrels a day to 9.16 million barrels a day. While higher than we’ve seen throughout the summer, this estimated rate is 739,000 barrels a day lower than the rate last year at this time. Moreover, total domestic gasoline supplies decreased by 4.6 million barrels last week to 239.2 million barrels, but the current level is 7.2 million barrels higher than the level at this time last year.

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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