Georgia’s average price for regular gasoline fell 7 cents over the past week to $3.58 a gallon, according to AAA, though rising crude oil prices could limit further savings.
The statewide average was 59 cents below the national average of $4.17 but 80 cents higher than a year ago. Filling a standard 15-gallon tank at Georgia’s average price costs about $53.70.
“Georgia drivers are paying an average of 59 cents less per gallon than the national average,” said Montrae Waiters, spokeswoman for AAA – The Auto Club Group. “While drivers are seeing some savings at the pump, rising oil prices could impact how long that relief lasts. To stretch fuel dollars further, drivers should compare prices, take advantage of fuel rewards programs, and combine errands whenever possible.”
EV Charging Rates
EV charging rates were hovering around 42 cents per kilowatt hour at commercial DC fast charging stations nationally. In Georgia the average price was a cent less at 41 cents.
Home charging is much cheaper, particularly during overnight off-peak hours. Check your local utility provider for rates.
What about the price of gasoline in Cobb County?
The average cost of a gallon of regular unleaded in Cobb County was $3.60 as of this morning, about two cents more than the statewide average.
National gas prices decline
The national average fell 11 cents over the week, from $4.28 to $4.17 a gallon, according to AAA.
Crude oil prices remained above $100 a barrel, limiting further relief at the pump. AAA also cited renewed concerns about global supply disruptions as a factor that could slow price declines in the coming weeks.
Gasoline demand and production declined last week, while domestic gasoline supplies increased, according to U.S. Energy Information Administration data cited by AAA.
Atlanta among Georgia’s most expensive markets
Atlanta’s average price was $3.61 a gallon, placing it among Georgia’s most expensive metro markets. Macon had the highest average at $3.63, followed by Savannah at $3.62.
The least expensive metro markets were Albany at $3.41, Catoosa-Dade-Walker at $3.43 and Brunswick at $3.45.
The averages reflect Sunday’s prices and are subject to overnight changes.
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.
Editor’s note: AI was used in the production of this article. To read about how, when and why we make use of AI, read our article “How, When and Why the Cobb County Courier uses AI.”