Georgia gasoline prices take 17-cent plunge over past week

Gasoline pump resting in its cradle

Georgia gasoline prices took a significant drop over the past week.

The average price is now $3.39 per gallon for regular unleaded gasoline. This is a decrease of 17 cents from last week, 24 cents from last month, and an increase of 21 cents from last year. Filling a 15-gallon tank would now cost an average of $50.85, which is almost $4.00 less than a month ago.

“Crude oil prices continue to increase, but the rise is tempered by much lower demand,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “The slide in drivers fueling up is typical, with schools back in session, the days are getting shorter as we look ahead to fall, in addition to, Governor Brian Kemp’s suspension of the state gas tax through October 12th continues to be the driving forces pushing pump prices lower.” 

Gasoline prices in Cobb County

The price of a gallon of regular unleaded in Cobb County is $3.404,  roughly similar to 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 risen to $3.87 (subject to change overnight).  

“The primary culprit is the surge in oil costs, which have jumped several dollars to hover around $90 per barrel. 

“According to data from the Energy Information Administration (EIA), gas demand decreased significantly from 9.32 to 8.31 million barrels a day last week. 

“Meanwhile, total domestic gasoline stocks jumped from 214.7 to 220.3 million barrels. 

“Although gas demand has dropped amid increasing stocks, elevated oil prices have pushed pump prices higher.” 

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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