After month of steady drop in price at the pump, the average cost of a gallon of regular unleaded in Georgia spiked by nine cents per gallon over the past week, reaching $2.78 (Editor’s Note: The AAA gas price page indicates the price is continuing to rise, and is now at $2.80 in Georgia, and the current price on the AAA website is $3.00 nationally). The sharp rise has been attributed to the disruption of shipping in the Persian Gulf caused by the Iran war.

EV charging cost at commercial DC charging stations maintained a stable cost of 39 cents per kilowatt hour nationally on average.

The Associated Press reports that “The price of a barrel of U.S. benchmark jumped 9% to $73 per barrel. Brent crude jumped nearly 10% to nearly $80 per barrel.”

“Gas prices are rising because instability in the global oil market is creating supply concerns that quickly influence prices here at home,” said Montrae Waiters, spokeswoman for AAA-The Auto Club Group. “At the same time, refineries are switching to the more expensive summer gasoline blend, and demand is rising in anticipation of spring travel.”

Cobb County gasoline price average

The price of a gallon of regular unleaded in Cobb County is $2.805, about the same as 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:

Nationwide Surge: Fuel Prices on the Rise

Across the nation, gas prices are on the rise, despite spring still being weeks away. The national average jumped five cents this week to $2.98. Refineries are switching to pricier summer-blend gasoline, and demand is set to rise with spring break travel next month. Adding to the pressure are global tensions tied to the conflict with Iran.

Electric:

The national average per kilowatt hour of electricity at a public EV charging station stayed the same at 39 cents. Drivers can plan ahead by checking prices along their route with AAA’s 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.”