After weeks of stability at around $2.70 per gallon on average for regular unleaded at the pump, Georgia gasoline prices took a six-cent jump over the past week.
According to the weekly press release from Montrae Waiters, spokeswoman, AAA – The Auto Club Group, Georgia drivers are now paying an average of $2.76 per gallon.
“While April saw minimal fluctuation, May is likely to see much larger increases alongside demand spikes, especially closer to Memorial Day weekend,” said Waiters. “AAA continues to monitor the Colonial Pipeline outage and what effect it may have on gas prices. At this time it’s just too early to know if it will cause pump prices to increase.”
Why are prices taking a jump?
According to AAA:
Since last Monday, the national average for a gallon of regular gasoline has increased by 6 cents to $2.96. According to data from the Energy Information Administration (EIA), total domestic refinery utilization increased to 86.5 percent last week amid a slight drop in demand from 8.88 million barrels a day to 8.86 million barrels a day. American drivers should expect continued price fluctuations at the pump in the lead up to Memorial Day Weekend.
What about Cobb County prices?
The price of regular unleaded at the pump in Cobb County is close to lockstep with the rest of the state, at $2.766 per gallon.
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?
According to AAA:
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.