According to AAA’s weekly report, the average gasoline price in Georgia has been stuck at $2.93 per gallon for regular unleaded for the second week in a row.
“Despite yet another week of slow demand at the pump, it seems Georgia’s gas prices remained stubbornly unmoved,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “AAA projects that more than 2.1 million Georgians will take a road trip for the Thanksgiving holiday. Our state remains under $3, so hitting the road for a getaway will be pleasing to the wallet of most drivers. However, price fluctuations remain possible, as record holiday travel volume could put pressure on fuel demand this week.”
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
The price of a gallon of regular unleaded in Cobb County is $2.968, about four 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 decreased by 2 cents to $3.05 (subject to change overnight). According to new data from the Energy Information Administration (EIA), gasoline demand plunged from 9.38 million barrels a day last week to 8.41. Meanwhile, total domestic gasoline stocks rose slightly from 206.9 million barrels to 208.9, while gasoline production decreased last week, averaging 9.3 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 affecting 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.”