Georgia gasoline prices resume their upward surge

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

Georgia gasoline prices surged upward another 14 cents over the past week.

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 $4.27 per gallon for regular unleaded.

“Elevated gas prices may factor into Georgians’ hesitation to hit the road this summer,” said Waiters. “Prices at the pump are likely to remain high, therefore, it may be a good idea to start setting aside some money now for upcoming road travel.”

Prices in Cobb County

The price of a gallon of regular unleaded in Cobb County is $4.28 at the time of this writing, roughly keeping pace with the statewide average.

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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 increased by 23 cents to $4.84. According to data from the Energy Information Administration (EIA), total domestic gasoline stocks decreased by 700,000 barrels to 219 million barrels. Last week, gasoline demand grew from 8.8 million barrels a day to 8.98 million barrels a day as drivers fueled up for Memorial Day weekend travel. These supply and demand dynamics contributed to rising pump prices. Coupled with volatile crude oil prices, pump prices will likely remain elevated as long as demand grows and supply remains tight.

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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