Georgia gasoline price average finally drops below $3.00 again

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Gasoline pump resting in its cradle used in articles about Georgia gasoline prices

Posted By: Larry Felton Johnson October 30, 2023

Gas prices in Georgia finally dropped below $3.00  over the past week, with the current average price at $2.96 per gallon for regular unleaded gasoline. 

This marks a 5-cent drop from the previous week, a 30-cent decrease from the past month, and a 20-cent decrease from the same time last year. 

Filling up a 15-gallon tank now costs an average of $44.40, which is $13.00 less than a month ago, providing some relief for Georgia drivers at the pump. Please note that these prices may change overnight.

“Currently, Georgia, Mississippi, and Texas have the lowest gas price averages in the U.S.,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “Georgian’s reprieve at the pump persists due to Governor Kemp’s gas tax suspension and low demand. However, fears that the volatility in the Middle East could spread in the region, may cause gas prices to rise in the global oil markets.”

Gasoline prices in Cobb County

The price of a gallon of regular unleaded in Cobb County is $3.086 rough 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.

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 6 cents to $3.49 (subject to change overnight). 

“Despite slackening demand, the pace of falling gas prices is being held up by the cost of oil, which is hovering in the mid-$80s per barrel.  

“According to data from the Energy Information Administration (EIA), gas demand decreased from 8.94 to 8.86 million barrels a day last week. 

“On the other hand, total domestic gasoline stocks increased slightly to 223.5 million barrels. 

“Lower gas demand, alongside declining oil prices, has contributed to pushing pump prices down.

“If oil prices continue to descend, 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.”