Gasoline prices in Georgia dropped over the past week, but only a penny.
According to AAA’s weekly report, gasoline prices in Georgia reached an average cost of $2.93 per gallon for regular unleaded.
“As Hurricane Rafael approaches, the looming storm halts gas prices in their tracks while oil operations brace for a possible impact,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “Hopefully, once the storm passes, we will start to see pump prices sliding back down.”
Cobb County Courier update: According to the latest reports from the National Weather Service, there is no tropical storm or hurricane activity expected over the next 48 hours, and no immediate threat over the next 7 days.
What will you learn by reading below?
- How do prices in Cobb County compare to the rest of the state
- What are the national trends in gasoline prices?
- What causes fluctuations in gasoline prices?
- How does AAA arrive at its price estimates?
Gasoline prices in Cobb County
A gallon of regular unleaded in Cobb County averages $2.937, about a cent 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 decreased by 2 cents to $3.08 (subject to change overnight). The threat of a rare hurricane in November churning in the gulf caused gas prices to slow at the pumps. According to new data from the Energy Information Administration (EIA), gas demand slid from 9.15 million barrels a day last week to 8.82. Meanwhile, total domestic gasoline stocks rose from 210.9 million barrels to 211.3, while gasoline production increased last week, averaging 9.7 million barrels daily.
What causes fluctuations in gasoline prices?
According to the U.S. Energy Information Administration (EIA), the price of crude oil is the main factor affecting the price of gasoline.
“Strong and increasing demand for gasoline and other petroleum products in the United States and the rest of the world can place intense pressure on available supplies,” the EIA website states.
According to the EIA, other factors that can affect prices include” disruptions in crude oil supplies, refinery operations, or gasoline pipeline deliveries.”
There are also seasonal changes in demand that cause price fluctuations throughout the year.
For more information on the price considerations for crude oil and gasoline, visit the EIA website.
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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