Gasoline prices in Georgia decline slightly over past week

Georgia Georgia gasoline prices jump illustrated by a closeup of a gas pump nozzleGasoline pump nozzle (photo by Larry Felton Johnson)

According to a press release from Montrae Waiters, spokeswoman for AAA – The Auto Club Group, Georgia prices at the pump declined slightly over the past week in Georgia, to an average price of $2.70 per gallon of regular unleaded. This represents a one cent drop.

“Georgia gas prices saw minimal or no change at the pumps across the state,” Waiters wrote in the press release. “We anticipate demand will continue to increase throughout the month as vaccinations become more widely available. Georgians may see gas prices fluctuate at the pump throughout the spring season.”

Why are gasoline prices fluctuating?

AAA wrote in its weekly report:

Since last Monday, the national average for a gallon of regular gasoline has decreased by 1 cent to $2.86. Gasoline demand measured 8.9 million barrels a day in the Energy Administration’s (EIA) latest weekly report, up nearly 4% from the week prior. Because of the jump in demand, gasoline supplies tightened to 230.5 million barrels. On the week, states saw pump price changes ranging from an increase of 15 cents to a decrease of 3 cents.

At the close of last week’s formal trading session, WTI increased $2.29 to settle at $61.45. Crude oil prices saw gains at the end of the week following the OPEC+ announcement that they will modestly increase production by 350,000 barrels starting in May. The production increase is less than the market expected, but enough to send crude oil prices higher. This week prices are likely to fluctuate, but not spike.

Cobb County gasoline prices

According to the AAA website this morning, the average price for a gallon of regular in Cobb County was $2.691, about a cent 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 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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