Georgia gasoline prices continue to slide, in step with the national trend, dropping seven cents per gallon on average for regular unleaded over the past week. But the recent rise in crude oil prices could begin a reversal of 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 $3.18 per gallon.
“As the cost of living continues to increase across the United States, pump prices in Georgia are on the decline,” said Waiters. “Less expensive crude oil prices customarily lead to cheaper gas prices. This trend has helped pump prices fall steadily for months. However, we have seen oil prices inching back up, which could impact the future of pump prices.”
The price of a gallon of regular unleaded in Cobb County is $3.328 at the time of this writing, about 15 cents more expensive than the statewide average. This 15 cent gap is typical of the past few weeks, but in keeping with higher prices in Fulton County several adjacent counties to the west of Cobb.
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 4 cents to $3.67 (subject to change overnight). According to data from the Energy Information Administration (EIA), gas demand decreased from 8.73 million barrels a day to 8.49 million barrels a day last week. Moreover, according to the EIA, total domestic gasoline stocks declined by 1.8 million barrels to 213 million barrels. Although gasoline demand has decreased, fluctuating oil prices have led to smaller pump price decreases. If oil prices continue to rise, the national average will likely reverse as pump prices increase.
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.