After months of falling, Georgia gasoline price takes a 27-cent jump

Gasoline pump resting in its cradle

After two months of falling cost, the price of gasoline in Georgia is now on the rise, with the average price for regular unleaded gas currently standing at $3.06 per gallon. 

This represents an increase of 27 cents from last week, 14 cents from last month, and 9 cents from the same time last year. 

Additionally, the cost of filling a standard 15-gallon tank with regular gas is now averaging at $45.90. 

Georgians now pay an additional $1.35 at the pump compared to a year ago.

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“Now that Georgia’s gas tax suspension has ended, Georgians are feeling the pressure at the pumps,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “Nationally, gas prices are holding steady. However, if the cost of crude oil continues to rise, pump prices will likely follow suit impacting gas stations across the U.S. What direction gas prices will take in the coming weeks is yet to be seen.”

Gasoline prices in Cobb County

The price of a gallon of regular unleaded in Cobb County is $3.17,  roughly 11 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 has held steady at around $3.24 (subject to change overnight). Despite less than stellar domestic demand, gas fell only 1 cent. The primary culprit is the cost of oil, which is creeping closer to $80 a barrel. Since oil is the main ingredient in gasoline, higher oil costs tend to put upward pressure on pump prices.

According to data from the Energy Information Administration (EIA), gas demand ​decreased from 8.48 to 8.21 million barrels a day last week. Meanwhile, total domestic gasoline stocks increased by 1.8 million barrels to 218.2 million barrels. Lower gas demand has contributed to limiting pump price increases amid rising oil prices for now.

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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