Georgia gas prices at the pump dipped this week, but not by much. EV charging nationwide has remained the same as last week, averaging 34 cents per kilowatt hour.

According to AAA’s weekly report, gasoline prices in Georgia fell by one cent, reaching an average cost of $2.89 per gallon for regular unleaded.

“Dipping crude oil rates, a mismatch of supply and demand, and concerns about the economy’s direction could significantly influence fuel prices in the months ahead,” said Montrae Waiters, AAA- The Auto Club Group spokeswoman. 

What will you learn by reading below?

1. How do prices in Cobb County compare to the rest of the state
2. What are the national trends in gasoline prices and EV charging rates?
3. What causes fluctuations in gasoline prices?
4. 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 $2.941, 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 in gasoline and EV charging?

AAA’s weekly report stated the following about national gas and oil trends:

Gas Prices Dip As Spring Break Travel Heats Up

Since last Monday, the national average for a gallon of regular gasoline has decreased by 1 cent to $3.07 (subject to change overnight). Despite increased demand, gas prices dipped lower. This drop at the pump comes as many travelers gear up to hit the road for spring break, and drivers may be surprised to find gas under $3 in quite a few states. 

According to new data from the Energy Information Administration (EIA), gasoline demand increased from 8.87 million barrels daily to 9.18. The total domestic gasoline supply decreased from 246.8 million barrels to 241.1, slightly below seasonal averages. Gasoline production also declined last week, averaging 9.6 million barrels per day. 

Oil Market Dynamics

At the close of last Wednesday’s formal trading session, WTI increased $1.43 to settle at $67.68 a barrel. The EIA reports that crude oil inventories decreased by 1.4 million barrels from the previous week. At 435.2 million barrels, U.S. crude oil inventories are about 5% 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.”