According to AAA’s weekly report, gasoline prices in Georgia rose slightly over the past week.
The average cost of per gallon for regular unleaded increased by one cent to an average of $2.91.
“The lackluster movement can be attributed to a marginally higher demand for gasoline and a lower cost for oil canceling each other out,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “However, higher demand and a rise in crude oil prices could nudge pump prices higher ahead of Christmas.”
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 $2.958, about 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 along with a brief on EV:
Nationally, Gas Price Decline Stalls
Since last Monday, the national average for a gallon of regular gasoline has increased by 1 cent to $3.02 (subject to change overnight). Going nowhere fast is an apt description of the national average for a gallon of gas. It has been close to the $3 level for five weeks yet faces stubborn resistance. According to data from the Energy Information Administration (EIA), gasoline demand rose from 8.73 million barrels a day last week to 8.81, about 50,000 barrels a day lower than the same week in 2023. Meanwhile, total domestic gasoline stocks rose from 214.6 million barrels to 219.7, while gasoline production increased last week, averaging 10.0 million barrels daily.
Electric Vehicles (EV)
Today’s national average per kilowatt hour of electricity at a public EV charging station remained at 34 cents. The EIA also reports that combined sales of hybrid vehicles, plug-in hybrid electric vehicles, and battery electric vehicles reached a record 21.2% in Q3 of 2024.
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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