Gasoline prices in Georgia continued to decline over the past week, with the gas tax suspension and the national decrease in demand the likeliest causes. This decline took place despite the acts of terrorism and war in Gaza and Israel.
The average gas price in Georgia is now $3.07 per gallon for regular unleaded gasoline.
This is 8 cents less than a week ago, 37 cents less than a month ago, and 19 cents less compared to the same time last year.
It costs an average of $46.05 to fill a 15-gallon tank of gas, which is about $3.00 less than last year.
“Georgia drivers continue to pay cheaper gas at the pumps,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “Governor Kemp’s suspension of the state’s gas tax continues to be the main culprit, alongside slack demand.”
Gasoline prices in Cobb County
Motorists in Cobb County are not faring quite as well as drivers in other parts of the state.
The price of a gallon of regular unleaded in Cobb County is $3.186, roughly 12 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:
“Gas Prices Fall Despite Clouds of War
“Since last Monday, the national average for a gallon of regular gasoline decreased by 10 cents to $3.60 (subject to change overnight). Domestic pump prices maintained their daily decline despite the uncertainty rippling through the oil market in the days since Hamas terrorists attacked Israel.
“Oil prices rose a few dollars per barrel last week, but that is far from the roughly $40 per barrel temporary spike following last year’s Russian invasion of Ukraine. The critical difference is that Russia is a significant oil producer, while Israel and the Palestinian territories are not.
“According to data from the Energy Information Administration (EIA), gas demand increased from 8.01 to 8.58 million barrels a day last week. On the other hand, total domestic gasoline stocks fell by 1.3 million barrels to 225.7 million barrels. Tepid demand, alongside descending oil “prices, has pushed pump prices lower. If oil prices continue to decline, drivers can expect further price drops at the pump in the weeks ahead.”
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.”