According to AAA – The Auto Club Group, Gas prices in Georgia have dropped 5 cents from the previous week and now cost an average of $3.34 per gallon for regular unleaded gasoline.

Drivers now pay 52 cents more than last month and $2.00 more than last year.

As of this morning, it costs an average of $50.10 to fill a 15-gallon tank of regular gas.

“Georgians finally felt relief at the pumps this weekend,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “Despite rising gas demand across the U.S. and recently elevated oil prices, the growth in total supply has helped to limit pump price increases.”

Prices in Cobb County

The price of a gallon of regular unleaded in Cobb County is $3.352, roughly one cent 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 3 cents to $3.47.

“According to data from the Energy Information Administration, gas demand rose from 8.14 to 8.49 million barrels a day last week.

“Meanwhile, total domestic gasoline stocks increased by 2.6 million barrels to 234.6 million barrels.

“At the close of last Wednesday’s formal trading session, WTI decreased by $2.46 to settle at $76.41.

“Crude prices fell last week after the U.S. Federal Reserve increased interest rates and signaled that more increases are possible.

“As a result, the market believes oil demand could be less than expected this year, pulling prices down.”

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.”