The Russian invasion of Ukraine continues to steadily drive gasoline prices upward, and today’s estimates on the AAA website put the price of a gallon of regular unleaded in Georgia at $4.06 per gallon.
Russia is the third-largest producer of petroleum in the world, after #1 U.S. and #2 Saudi Arabia, so disruption or potential disruption of Russian oil exportation affects markets worldwide.
The average price in Cobb County stands at $4.041, barely less than the statewide average.
Nationwide the price is at $4.173 as of the publication of this article.
The conflict is taking its toll on the stock market, too. Yesterday, when the price of a barrel of oil hit $130, the S&P and Dow both plunged.
Energy Information Agency table of oil products prices
The U.S. Energy Information Agency keeps independent data and statistics on energy prices and trends. Here is their table of historical data for the year, along with links to longer-term prices.
Note that the recent Russian invasion of Ukraine began on February 24, 2022.
|Show Data By Product||01/31/22||02/07/22||02/14/22||02/21/22||02/28/22||03/07/22||View|
|Gasoline – All Grades||3.464||3.538||3.581||3.624||3.701||4.196||1993-2022|
|All Grades – Conventional Areas||3.321||3.401||3.441||3.480||3.554||4.031||1994-2022|
|All Grades – Reformulated Areas||3.754||3.812||3.859||3.911||3.994||4.527||1994-2022|
|Diesel (On-Highway) – All Types||3.846||3.951||4.019||4.055||4.104||4.849||1994-2022|
|Ultra Low Sulfur (15 ppm and Under)||3.846||3.951||4.019||4.055||4.104||4.849||2007-2022|
|Low Sulfur (Above 15 ppm to 500 ppm)||2007-2008|
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.