According to AAA’s weekly report, gasoline prices in Georgia held steady, at an average cost of $2.90 per gallon for regular unleaded. This is the same as the previous seven-day period.

The national average for EV charging remained unchanged at 36 cents per kilowatt-hour. The average rate in Georgia was 38 cents, two cents higher than the national average.

“Gas prices remain low across the country in many states, providing some relief for drivers; however, with hurricane season in full swing, any significant storms could disrupt supply and lead to higher prices at the pump,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “It’s a good time for drivers to consider fuel-saving strategies to prepare for potential fluctuations.”

Gasoline prices in Cobb County

The price of a gallon of regular unleaded in Cobb County is $2.899, the same as the statewide average. This is unusual, as the cost in Cobb is usually a few cents higher 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:

Summer Brings Temporary Relief in Gas Prices

Since last Monday, the national average price for a gallon of regular gasoline has decreased by 1 cent to $3.14, subject to change overnight. Gas prices are remaining low as we move through the summer, dropping to levels not seen since the summer of 2021. Tropical weather during this season can impact gas prices by disrupting refinery operations or affecting gasoline distribution and demand due to flooding. Damage to refineries or localized flooding during this time can significantly impact fuel availability and pricing. As a result, drivers should anticipate potential increases in gas prices over the next month or two. 

According to new data from the Energy Information Administration (EIA), gasoline demand decreased from 9.15 million barrels a day last week to 8.48 million barrels a day. Total domestic gasoline supply increased from 229.5 million barrels to 232.9 million barrels.

Oil Market Dynamics

At the close of last Wednesday’s formal trading session, WTI fell 14 cents to settle at $66.38 a barrel. The EIA reports that crude oil inventories decreased by 3.9 million barrels from the previous week. At 422.2 million barrels, U.S. crude oil inventories are about 8% below the five-year average for this time of year.        

Electric:

Meanwhile, the national average per kilowatt-hour of electricity at a public EV charging station remained the same this past week at 36 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.”