Gasoline prices in Georgia took a relatively sharp climb over the past seven days.

According to AAA’s weekly report, gasoline prices in Georgia increased by six cents, reaching an average cost of $3.00 per gallon for regular unleaded.

“With spring just around the corner, refineries are switching up to their summer fuels and doing their usual tune-ups, which means we might see a bit of a bump in prices around this time,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “Also, a major refinery in Northern California hit pause on its operations because of an explosion that took place on February 1^st, which also caused prices to rise at the pumps in certain parts of the country.”

Gasoline prices in Cobb County

The price of a gallon of regular unleaded in Cobb County is $3.097, about ten 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:

Seasonal Trends Nudge Gas Prices Higher

Since last Monday, the national average for a gallon of regular gasoline has increased by 2 cents to $3.15 (subject to change overnight). As spring approaches, refineries begin transitioning to summer blend fuel, which often increases prices this time of year. Routine seasonal maintenance and an offline refinery in Northern California are putting additional strain on supply. These factors are pushing gas prices up, which means consumers may see higher prices at the pump as warmer months approach. 

According to new data from the Energy Information Administration (EIA), gasoline demand increased from 8.32 million barrels a day last week to 8.57. The total domestic gasoline supply dropped from 251.1 million barrels to 248.1, while gasoline production increased, averaging 9.3 million daily. 

Oil Market Dynamics

At the close of last Wednesday’s formal trading session, WTI dropped $1.95 to settle at $71.37 a barrel. The EIA reports that crude oil inventories increased by 4.1 million barrels from the previous week. At 427.9 million barrels, U.S. crude oil inventories are about 4% below the five-year average for this time of year. 

Electric:

Meanwhile, today’s national average per kilowatt hour of electricity at a public EV charging station remained at 34 cents.  Drivers can find 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.”