Georgia gasoline prices dropped an average of eight cents per gallon over the past week. National averages showed an even sharper drop, declining 14 cents per gallon since last Monday.
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 $2.88 per gallon for regular unleaded.
“Georgia pump prices are dropping sharply, which is a welcome relief to Georgians who plan to hit the road for the holidays,” said Waiters. “There are several factors contributing to the decline in gas prices: Governor Kemp’s decision to extend the suspension of the state gas taxes through January 10, globally crude oil prices continue to drop, and winter blend gasoline is cheaper to produce. Still, experts in the industry cannot predict if gas prices will continue to fall after the new year.”
Prices in Cobb County
The price of a gallon of regular unleaded in Cobb County is $2.94 as of this article’s publication, about six cents more 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 14 cents to $3.27 (subject to change overnight). According to data from the Energy Information Administration (EIA), gas demand remained low at 8.36 million barrels a day last week.
“The current rate is approximately 605,000 barrels a day lower than the rate at this time last year. Meanwhile, total domestic gasoline stocks rose significantly by 5.3 million barrels to 219.1 million barrels.
“Increasing supply and lower gasoline demand is pushing pump prices lower. As demand remains low and stocks grow, drivers will likely continue to see pump prices decrease through next 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.”
