According to AAA’s weekly report, gasoline prices in Georgia remained the same over the past week, holding steady at an average cost of $2.91 per gallon for regular unleaded.
“Fuel expenses in Georgia remained steadfast, showing little to no fluctuation at the pumps statewide,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “But, just a heads up, with folks fueling up more and if crude oil costs creep up, we might see a little hike in the prices at the pump as we get closer to Christmas time.”
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 $2.954, about four cents greater 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:
Nationally, Gas Prices Rise Slightly
Since last Monday, the national average for a gallon of regular gasoline has increased by 2 cents to $3.04 (subject to change overnight). After weeks of slowly marching lower, the national average for a gallon of gas reversed course. According to data from the Energy Information Administration (EIA), gasoline demand rose slightly from 8.81 million barrels a day last week to 8.92. Meanwhile, total domestic gasoline stocks rose from 219.7 million barrels to 222, while gasoline production decreased last week, averaging 9.9 million daily.
The EIA has also tallied the impact of this year’s hurricane season and reports that unplanned outages of crude oil production in the U.S. Gulf of Mexico due to storms averaged 295,000 barrels per day in September and 110,000 in November, accounting for 16% and 5%, respectively, of total crude oil production from federal Gulf of Mexico waters in those months. However, the impact at the pump was relatively muted as prices popped by a few pennies before resuming their seasonal decline.
Electric Vehicles (EV)
Today’s national average per kilowatt hour of electricity at a public EV charging station remains 34 cents. Drivers can find current electric charging prices along their route using the AAA TripTik Travel planner.
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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