Georgia gasoline prices race past $4.00 per gallon on Russian invasion of Ukraine

Gasoline pump resting in its cradleGasoline pump (Photo Cobb County Courier/Larry Felton Johnson)

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.

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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 01/31/2202/07/2202/14/2202/21/2202/28/2203/07/22View
History
Gasoline – All Grades3.4643.5383.5813.6243.7014.1961993-2022
All Grades – Conventional Areas3.3213.4013.4413.4803.5544.0311994-2022
All Grades – Reformulated Areas3.7543.8123.8593.9113.9944.5271994-2022
Regular3.3683.4443.4873.5303.6084.1021990-2022
Conventional Areas3.2493.3303.3723.4103.4863.9631990-2022
Reformulated Areas3.6303.6903.7383.7903.8744.4071994-2022
Midgrade3.8043.8673.9083.9544.0254.5241994-2022
Conventional Areas3.6043.6733.7103.7523.8144.2921994-2022
Reformulated Areas4.1054.1584.2044.2564.3414.8721994-2022
Premium4.0784.1414.1804.2214.2964.7981994-2022
Conventional Areas3.9043.9744.0094.0454.1144.5921994-2022
Reformulated Areas4.2884.3404.3844.4304.5135.0441994-2022
Diesel (On-Highway) – All Types3.8463.9514.0194.0554.1044.8491994-2022
Ultra Low Sulfur (15 ppm and Under)3.8463.9514.0194.0554.1044.8492007-2022
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.

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