Gasoline prices in Georgia, and in Cobb County, continued to rise over the past week, according to the weekly report from AAA.
AAA attributes the jump in prices to the increase in the price of crude oil, plus adjustments in production processes refineries have to make due to the extreme heat.
The average price for regular unleaded gasoline in the state is now $3.56 per gallon. This is 19 cents higher than last week, 33 cents higher than last month, and 23 cents lower than the same time last year. It costs an average of $53.25 to fill a 15-gallon tank, which is $4.00 less than a year ago.
“The steady increase of crude oil prices and refineries having to adjust production because of soaring temperatures causes pump prices to elevate,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “The cost of oil accounts for more than 50% of what we pay at the pumps, Georgians may not catch a break regarding gas prices any time soon if crude oil continues to rise.”
Gasoline prices in Cobb County
The price of a gallon of regular unleaded in Cobb County is $3.595, roughly four 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 increased by 16 cents to $3.75 (subject to change overnight).
“The primary cause appears to be the oil price, which has marched nearly $4 higher in the past week to hover near $80 per barrel.
“According to data from the Energy Information Administration (EIA), gas demand rose slightly from 8.86 to 8.94 million barrels a day.
“Meanwhile, total domestic gasoline stocks dipped from 218.4 to 217.6 million barrels. With supplies tight, if demand should spike, pump prices will follow suit.”
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.”