Georgia drivers are paying significantly more at the pump this week as rising crude oil prices, driven by intensified fighting in the Mideast oil-producing region, and strong summer travel demand, continue to increase fuel costs across the state, according to AAA.
The statewide average price for a gallon of regular unleaded gasoline is $3.77, up 20 cents from a week ago and 9 cents higher than a month ago. Despite the recent increase, prices remain 87 cents higher than they were at this time last year. Filling a standard 15-gallon tank of regular gasoline now costs approximately $56.55.
“Gas prices continue to climb across Georgia and much of the country as higher crude oil prices drive up the cost of fuel,” said Montrae Waiters, spokeswoman for AAA – The Auto Club Group. “Geopolitical uncertainty and strong summer travel demand remain key factors in the market, and drivers may continue to see upward pressure at the pump in the weeks ahead.”
AAA encourages drivers to compare fuel prices, take advantage of fuel rewards programs and plan ahead to help manage fuel expenses.
National average approaches $4 per gallon
The national average for a gallon of regular gasoline increased 12 cents over the past week to $3.99. According to AAA, concerns over instability in the Strait of Hormuz have pushed crude oil prices closer to $80 per barrel, contributing to higher prices at the pump. While most states remain below the $4-per-gallon mark, the national average is once again nearing that threshold.
Metro Atlanta and regional gas prices
The average price for regular gasoline in the Atlanta metro area is $3.78 per gallon.
Georgia’s most expensive metro markets are Hinesville-Fort Stewart at $3.88 per gallon, Savannah at $3.86 and Macon at $3.79.
The state’s least expensive metro markets are Albany at $3.69 per gallon, Warner Robins at $3.68 and the Catoosa-Dade-Walker area at $3.67.
What about the rate in Cobb County?
The average price for a gallon of regular unleaded is around $3.79 this morning, about two cents more than the statewide average.
Electric vehicle charging
EV charging rates this morning are hovering around 42 cents per kilowatt hour at commercial DC fast charging stations nationally and in Georgia the average is about 41 cents.
Home charging is much cheaper, particularly during overnight off-peak hours. Check your local utility provider for rates.
Regular unleaded gasoline price averages
| Market | Current | Week Ago | Month Ago | One Year Ago | Record High |
|---|---|---|---|---|---|
| National | $3.99 | $3.87 | $3.97 | $3.14 | $5.01 (June 14, 2022) |
| Georgia | $3.77 | $3.57 | $3.68 | $2.90 | $4.49 (June 15, 2022) |
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.