Georgia gasoline prices move slightly upward

Georgia gasoline demand drop due to COVID illustrated by closeup of a gasoline pump nozzleGasoline pump nozzle (photo by Larry Felton Johnson)

According to the weekly press release from Montrae Waiters the spokeswoman for AAA – The Auto Club Group, Georgia drivers are now paying an average of $2.98 per gallon.

Monday’s state average is 2 cents more than a week ago, 1 cent more than last month and 95 cents more than this time last year.

Prices in Cobb County

The price of a gallon of regular unleaded in Cobb County is $2.99 at the time of this writing, about one cent more expensive 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.

AAA’s weekly report stated the following about national gas and oil trends:

Following Labor Day weekend and the remnants of Hurricane Ida, the national gas price average has stabilized at $3.18, which is just 3 cents more expensive on the week. The storm took about 13% of U.S. refinery capacity offline and while there are no firm re-start dates, refineries are expected to be back online this month.

Gasoline stock levels are currently at 227.2 million barrels, which is a healthy level. However, stock levels could tighten until refineries resume normal operations. Typically, a constraint on stocks would mean higher gas prices, but with demand expected to decrease going into the fall, price fluctuation should be minimal. Today’s national average is the same as last month, but 96 cents more than a year ago.

“Historically, gas demand starts to decline in the fall, which leads to less expensive gas prices,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “Despite the dip in demand, the national average is expected to remain above $3/gallon especially as crude oil continues to price on the higher end.”

Motorists will welcome the cheaper gas prices following the most expensive summer at the pump in seven years.

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.

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