Georgia gasoline prices spike with higher demand, increased oil prices

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

Posted By: Larry Felton Johnson March 18, 2024

Georgia gas prices spiked an average of 15 cents per gallon on average for regular unleaded over the past week.

According to the weekly report from AAA, we’re now paying an average of $3.35 per gallon as of this morning.

“Gas prices traditionally rise as winter winds down and spring leaps forward,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “Georgians want to know why gas prices are increasing, especially with the high cost of living. The jump at the pumps can be attributed to rising crude oil prices, the switch over to summer blend gasoline, which is more expensive to produce, and increased demand on the roadways. …”

Gasoline prices in Cobb County

The price of a gallon of regular unleaded in Cobb County is $3.39, four 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 7 cents to $3.46 (subject to change overnight). With the cost of oil crossing the $80 per barrel mark and gas demand popping with warmer temps and better weather, these changes are impacting prices at the pump. 

According to data from the Energy Information Administration (EIA), gas demand increased slightly from 9.01 to 9.04 million barrels a day last week. Meanwhile, total domestic gasoline stocks dropped by 5.6 million barrels to 234.1 million barrels. Higher gas demand, amid tightening supply, has pushed pump prices higher.

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.”