Georgia gasoline prices continued to plunge on low demand, lower oil prices

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

Georgia gasoline prices continued to plunge over the past week, dropping an average of 14 cents per gallon,.

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 $3.90 per gallon.

“Lower domestic demand for gas, and declining crude oil prices continues to be the main factors for lower pump prices,” said Waiters.

Prices in Cobb County

Prices in Cobb County, meanwhile, persisted at a level slightly above $4.00.

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The price of a gallon of regular unleaded in Cobb County is $4.035 at the time of this writing, about 14 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 17 cents to $4.36 (subject to change overnight).According to the Energy Information Administration (EIA), total domestic gasoline stocks increased by 3.5 million barrels to 228.4 million barrels, signaling that low demand led to growth in inventory last week. If gas demand remains low as stocks increase, alongside a continuing reduction in crude prices, drivers will likely see lower pump prices this week.

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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