Georgia gasoline prices drop an average of 3 cents over past week

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

According to the weekly report from AAA, gasoline prices in Georgia dropped 3 cents over the past week, reaching an average cost of $3.32 per gallon for regular unleaded. Crude oil prices have been increasing, and AAA stated that Ukrainian attacks on Russia’s oil infrastructure might increase upward pressure on prices.

The current cost of gasoline is 10 cents per gallon more than this time last year.

“Georgians felt some relief at the pumps this Easter weekend,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “Amid rising crude oil prices, Georgia gas price average managed to drop a little at the pump. Low demand and slow-rising crude oil prices help to reduce gas prices …”

Gasoline prices in Cobb County

The price of a gallon of regular unleaded in Cobb County is $3.346, roughly three cents more than the statewide average.

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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 holds steady at $3.53 (subject to change overnight). Pump prices will likely resume a spring increase. The uncertainty of Ukraine targeting Russia’s oil infrastructure could also cause gas prices to rise within the coming weeks.

According to data from the Energy Information Administration (EIA), gas demand dipped slightly from 8.81 to 8.72 million barrels a day last week. Meanwhile, total domestic gasoline stocks increased by 1.3 million barrels to 232.1 million barrels. Lower demand would typically contribute to pushing pump prices lower or slowing increases but rising oil prices have kept them elevated instead.

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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