Georgia gasoline prices fell another five cents per gallon on average over the past week, but hurricane season could reverse that trend at any time.
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 $3.33 per gallon.
“Crude oil prices continue to decline amid market concerns that crude demand will fall if economic growth slows or stalls due to a recession,” said Waiters. “Lower crude prices, usually leads to cheaper gas prices. However, hurricane season is underway, and a hurricane has the potential to cause a disruption to oil and gas operations.”
Prices in Cobb County
The price of a gallon of regular unleaded in Cobb County is $3.476 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.
What are the national trends?
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 $3.78 (subject to change overnight). According to data from the Energy Information Administration (EIA), gas demand increased slightly from 8.43 million barrels a day to 8.59 million barrels a day. However, the rate is nearly 1 million barrels a day lower than the last week of August 2021. Moreover, according to the EIA, total domestic gasoline stocks decreased by 1.1 million barrels to 214.5 million barrels. Although gasoline demand has increased and supply has tightened, lower oil prices have led to falling pump prices. If oil prices continue to decline, drivers will likely continue to see pump prices drop after Labor Day.
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.