Photo: Larry Felton Johnson/Cobb County Courier

Gasoline prices in Georgia continued to decline, but very slowly.

According to AAA’s weekly report, gasoline prices in Georgia fell one cent over the past week, reaching an average cost of $3.14 per gallon for regular unleaded.

“Gas prices are still on the decline but they’re taking their sweet time this week, shaving off just a penny,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “Looks like some travelers are seizing the chance for one last summer trip, causing a tiny bump in demand, thereby slowing the drop in gas prices.”

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 average price of a gallon of regular unleaded in Cobb County is $3.19, five 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:

Pace of Gas Price Declines Slowly as Labor Day Weekend Comes to an End

Since last Monday, the national average for a gallon of regular gasoline decreased by 2 cents to $3.33 (subject to change overnight). Pump prices are still falling, but at a slower pace than recently. A slight uptick in gas demand may reflect the last hurrah for summer travelers. A storm system forming in the Atlantic may pose a threat to falling gas prices as well.

According to new data from the Energy Information Administration (EIA), gas demand rose last week from 9.19 million barrels a day to 9.30. Meanwhile, total domestic gasoline stocks fell from 220.2 to 218.4 million barrels, and gasoline production decreased last week, averaging 9.6 million daily.  Unspectacular gasoline demand and falling oil costs may cause pump prices to slide further.

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.”