Driven by higher oil prices, gasoline prices in Georgia took another upward jump.

According to AAA’s weekly report, gasoline prices in Georgia have increased seven cents over the past week, reaching an average cost of $3.39 per gallon for regular unleaded.

“Fuel prices across the nation have edged higher in the last week, spurred on by the steady climb in oil prices,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “At present, much like the unpredictable nature of the wind itself, we can anticipate possible fluctuations with prices at the pumps slightly climbing upwards. However, as we steer closer towards August and the height of the hurricane season, there is a threat that gas prices could swell momentarily if a turbulent storm were to strike in an unfortunate location.”

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?
3. How does AAA arrive at its price estimates?

Gasoline prices in Cobb County

A gallon of regular unleaded gasoline costs an average of $3.448 in Cobb County, roughly six 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?

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

Since last Monday, the national average for a gallon of regular gasoline has increased by 2 cents to $3.52 (subject to change overnight). The slight nudge higher came despite Hurricane Beryl smacking into the coast of Texas, a record number of July 4^th car travelers, and oil costs hovering above $80 per barrel.

According to new data from the Energy Information Administration (EIA), gas demand dipped from 9.42 million barrels a day to 9.39 last week. Meanwhile, total domestic gasoline stocks fell from 231.7 to 229.7 million barrels, while gasoline production increased last week, averaging 10.3 million barrels daily. Tepid gasoline demand and waffling oil costs may lead to some short-term stability in pump prices.

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.”