Georgia gasoline prices jumps 13 cents over past week

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

Posted By: Larry Felton Johnson February 19, 2024

Georgia gasoline prices took a 13-cent jump over the past week.

According to the weekly report from AAA, the cost of a gallon of unleaded regular in the state now averages $3.16 per gallon.

“Georgians continue to take a punch at the pumps,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “The rise in crude oil prices continues to be the major culprit for higher prices in Georgia. Unfortunately, we cannot predict how high gas prices will rise this week.”

Gasoline prices in Cobb County

The price of a gallon of regular unleaded in Cobb County is $3.18, about 2 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 increased by 9 cents to $3.27 (subject to change overnight). A significant contributor is a shutdown at the large BP-Whiting refinery in Indiana, which has been offline for more than two weeks due to a power outage.  The refinery processes 435,000 barrels of crude per day, and the shutdown has caused prices throughout the Midwest to climb, pushing the national average higher as well.   

According to data from the Energy Information Administration (EIA), gas demand decreased from 8.81 to 8.17 million barrels a day last week. Total domestic gasoline stocks declined by 3.7 million barrels to 247.3 million barrels. Lower gas demand would typically push pump prices down, but fluctuating oil prices and tight gas supply have increased prices.

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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