Gasoline prices continue to climb in Georgia, and in Cobb County.
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 $3.24 per gallon for regular unleaded at the pump.
That’s a nine-cent rise over the price this time last week.
“Crude oil continues to remain elevated, and pump prices are following suit because crude oil accounts for more than half of the price of a gallon of gas.” said Waiters. “Regrettably, we can’t predict when Georgians will see relief at the pump.”
Prices in Cobb County
The price of a gallon of regular unleaded in Cobb County is $3.24 at the time of this writing, the same as 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.
What are the national trends?
AAA’s weekly report stated the following about national gas and oil trends:
Since last Monday, the national average for a gallon of regular gasoline has increased by 7 cents to $3.38. According to data from the Energy Information Administration (EIA), total domestic gasoline stocks decreased by 5.4 million barrels to 217.7 million barrels last week. However, gasoline demand increased from 9.19 million barrels a day to 9.63 million barrels a day. With the US economy recovering from the depths of the pandemic, demand for gas has gone up, but supply is tight. Higher demand coupled with a decline in stocks, alongside elevated crude prices, has put upward market pressure on pump prices. Pump prices will likely rise as long as crude prices remain high — above $80 per barrel.
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.