Average gasoline price in Georgia fell an average of 7 cents per gallon over past week

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

The average price of a gallon of regular unleaded gasoline in Georgia dropped seven cents over the past week.

According to AAA’s weekly report, the average price in Georgia fell to $3.29 per gallon.

“The drop in gas prices is a welcome relief to Georgians,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. With crude oil prices remaining low, an abundance of gas supply, and meager demand, all keep fuel costs low. But let’s not get too comfortable, the summer travel season is just around the corner, and that could mean our gas prices may go back up!”

What will you learn by reading below?

  1. How do prices in Cobb County compare to the rest of the state
  2. What are the national trends in gasoline prices?
  3. How does AAA arrive at its price estimates?

Gasoline prices in Cobb County

This morning, the price of a gallon of regular unleaded in Cobb County was $3.384, about nine 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.

What are the national trends?

AAA’s weekly report stated the following about national gas and oil trends:

Gasoline prices took another trip south this week. Since last Monday, the national average for a gallon of regular gasoline decreased by 9 cents to $3.44 (subject to change overnight). This drop in pump prices seems to hold a firm, robust grip for now. According to data from the Energy Information Administration (EIA), gas demand dipped from 9.14 barrels a day to 8.94 last week. Meanwhile, total domestic gasoline stocks jumped from 228.8 to 230.9 million barrels. Tepid gasoline demand, increasing supply, and falling oil costs will likely lead to falling pump 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.”