[Gasoline pump (Photo Cobb County Courier/Larry Felton Johnson)]
by Larry Felton Johnson
Gasoline prices took a significant drop in Georgia over the past week, driven by the gas tax suspension, low demand, and lower crude oil prices.
According to the weekly report from AAA, Gasoline prices in Georgia have decreased compared to a week ago.
The current average price for regular unleaded gasoline is $3.15 per gallon.
This is a decrease of 9 cents from a week ago, 42 cents from a month ago, and 6 cents from the same time last year. It now costs an average of $47.25 to fill a 15-gallon tank of gasoline.
Overall, Georgia drivers are paying about $1.00 less per gallon compared to last year.
“Georgia pump prices continue to fall like the leaves,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “Several factors continue to impact lower gas prices, such as slack demand, cheaper oil prices, and Governor Kemp’s suspension of the state’s gas tax.”
Gasoline prices in Cobb County
The price of a gallon of regular unleaded in Cobb County is $3.244, roughly nine 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 decreased by 11 cents to $3.70 (subject to change overnight).
“According to data from the Energy Information Administration (EIA), gas demand dropped significantly from 8.62 to 8.01 million barrels a day last week.
“On the other hand, total domestic gasoline stocks increased substantially by 6.5 million barrels to 227 million barrels.
“Growing supply, amid low demand, has pushed pump prices down.
“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.”