Why Georgia gasoline prices are unchanged

photo of gasoline pumpGasoline pump nozzle (photo by Larry Felton Johnson)

According to a press release from Montrae Waiters, spokeswoman for AAA – The Auto Club Group, average Georgia gasoline prices at the pump remained unchanged over the past week.

Once again, Georgia motorists are paying an average price of $2.70 per gallon for regular unleaded gasoline, the same price AAA reported last week.

Why are prices remaining steady?

“Nationally, both demand and supply have steadily increased in the past five weeks, but weekly gasoline supply in Georgia are trending less substantial.,” said Waiters in her weekly press release. “It’s possible the state average could increase in the coming weeks as summer approaches and more drivers take to the roads.”

What factors went into the past week’s price average?

Under a subject heading entitled, “National average flat as gas demand drops,” AAA wrote the following:

Since last Monday, the national average for a gallon of regular gasoline has increased by 2 cents to $2.90. According to data from the Energy Information Administration, total domestic gasoline stocks increased by 100,000 barrels to 235.1 million barrels last week. The increase helped to limit pump price increases as demand dropped from 9.1 million barrels a day to 8.88 million barrels a day. Continued growth in total domestic supply, amid a reduction in demand, will likely help to keep pump prices in check through the weekend.

What about Cobb County prices?

The price of regular unleaded at the pump remains roughly the same in Cobb County, too, at $2.679 per gallon, about 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?

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.