Gasoline prices continued to drop in Georgia, falling another 8 cents over the past week for regular unleaded, in spite of the slight demand increase brought on by the Labor Day weekend. Falling crude oil prices are the likely cause of the drop in cost to motorists, although hurricane season could reverse that trend.
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 $3.25 per gallon.
“So far, the decrease in crude oil prices have had a noticeable impact at the pump. However, hurricane season is underway, and a storm has the potential to cause a disruption to oil and gas operations,” said Waiters. “If this happens, we could see an increase in gas prices.”
The price of a gallon of regular unleaded in Cobb County is $3.40 at the time of this writing, about 15 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 7 cents to $3.71 (subject to change overnight). According to data from the Energy Information Administration (EIA), gas demand increased slightly from 8.59 million barrels a day to 8.73 million barrels a day. Moreover, according to the EIA, total domestic gasoline stocks rose by 300,000 barrels to 214.8 million barrels. Although gasoline demand has increased slightly, lower oil prices have led to falling pump prices. If gasoline demand begins to subside, as it typically does post-Labor Day, pump prices will likely continue to decrease.
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.