Likely to remain high through Thanksgiving

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

Georgia gasoline prices remained about the same over the past week, dropping a barely significant one cent and are likely to remain high through Thanksgiving.

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.

“There are several factors gasoline prices have soared this year, such as, high crude oil prices and increase driving demand.” said Waiters, AAA. “AAA predicts 1.5 million Georgians will be hitting the road for Thanksgiving. Unfortunately, it appears these high gas prices will hang around through the holiday.”

Prices in Cobb County

The price of a gallon of regular unleaded in Cobb County is $3.26 at the time of this writing, about two cents 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:

Since last Monday, the national average for a gallon of regular gasoline has decreased by a penny to $3.40. According to data from the Energy Information Administration (EIA), total domestic gasoline stocks decreased by 700,000 barrels to 212 million barrels last week. Gasoline demand also dropped slightly from 9.26 million barrels a day to 9.24 million barrels a day. The decrease in demand, alongside stocks, has helped to lower pump prices and minimize pump price increases. However, gasoline prices will likely remain elevated as long as oil prices are near $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.

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