Photo above by Larry Felton Johnson/Cobb County Courier

Georgia gasoline prices fell, but not by much.

According to AAA’s weekly report, gasoline prices in Georgia have decreased a modest one cent over the past week, reaching an average cost of $3.33 per gallon for regular unleaded.

“Low demand and slow-rising crude oil prices help to reduce pump prices,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “However, if the tempest of crude prices rises above $80, it threatens to rain down an alarming surge on gas prices this week.”

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

The price of a gallon of regular unleaded in Cobb County is $3.385, roughly six 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:

Since last Monday, the national average for a gallon of regular gasoline has held steady at $3.50 (subject to change overnight). Displaying hardly any sign of wavering since June, the national average has been holding its line around $3.50 per gallon as of June 26th.

According to new data from the Energy Information Administration (EIA), gas demand rose unexpectedly from 8.78 million barrels a day to 9.45 last week. Meanwhile, total domestic gasoline stocks fell from 233 to 227.4 million barrels. Gasoline production rose last week, averaging 10.2 million barrels per day. Higher gasoline demand but lower oil costs may keep pump prices relatively stable for now.

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.”