Georgia gasoline prices continued to drop over the week ending October 31, and are likely to continue fall on low demand

Gasoline pump resting in its cradle

Georgia gasoline prices per gallon dropped five cents on average over the past week ending Monday, October 31.

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 $3.15 per gallon.

“Georgians may not experience price reductions at the grocery store due to inflation but can definitely appreciate savings at the pump,” said Waiters. “As long as demand remains low and there is no uptick in crude oil prices, drivers may continue to see savings at the pump.”

Prices in Cobb County

The price of a gallon of regular unleaded in Cobb County is $3.155, about the same as 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 decreased by 3 cents to $3.76 (subject to change overnight).

“According to data from the Energy Information Administration (EIA), gas demand rose slightly from 8.68 million barrels a day to 8.93 million barrels a day and total domestic gasoline stocks decreased from 209.4 million barrels to 207.9 million barrels.

“Although gasoline demand was up slightly, it is still nearly 400,000 barrels lower than this same time last year.

“Fluctuating oil prices and low demand are contributing to the national average moving downward. If demand stays low, as oil prices slide, drivers should see pump prices come down through the 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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