The price of a gallon of regular unleaded gasoline in Georgia fell below $3 again over the past week, and is $2.96 per gallon as of the publication of this article.

According to AAA, Monday’s state average is 7 cents less than a week ago, 12 cents more than a month ago, and 17 cents more than this time last year.

“AAA is forecasting that 3.3 million Georgians will drive to their holiday destinations this year, and we anticipate gas prices will continue a downward trend,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “With pump prices falling slowly each day, it is likely that the national average will slide below $3 per gallon by the end of the year.”

Gasoline prices in Cobb County

Editor’s note: the link to access AAA’s website to get Cobb County prices was down as of the publication of this article.  We’ll update as soon as the figures are available]

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 has decreased by 9 cents to $3.06 (subject to change overnight). 

“The main reasons are tepid demand and a low cost for oil, which is hovering around $70 per barrel. 

“According to data from the Energy Information Administration (EIA), gas demand increased from 8.47 to 8.86 million barrels a day last week. Meanwhile, total domestic gasoline stocks increased slightly to 224 million barrels. 

“Typically, higher demand would push pump prices higher, but lower oil prices have pushed prices lower. If oil prices remain low, drivers can expect pump prices to do the same during the holiday season.”

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.”