Georgia gasoline prices declined another five cents on average for a gallon of regular unleaded.

According to AAA’s weekly report, gasoline prices in Georgia now average $3.23 per gallon.

“Students have returned to schools across Georgia, and parents find themselves constantly on the move, with their gas tanks depleting faster than normal, so it was a welcome relief over the weekend when fuel prices dipped at the pumps as if to celebrate the season of back-to-school,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “Modest crude oil prices and minimal demand keep the cost of gas at an idyllic low.”

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

The price of a gallon of regular unleaded in Cobb County is $3.293, approximately 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 decreased by 3 cents to $3.44 (subject to change overnight). 

According to new data from the Energy Information Administration (EIA), gas demand fell from 9.25 million barrels a day to 8.96 last week. Meanwhile, total domestic gasoline stocks rose from 223.8 to 225.1 million barrels. Gasoline production increased last week, averaging 10.0 million barrels per day. Crude oil production hit an all-time high of 13.4 million barrels per day. Lower gasoline demand, rising supply, and stable oil costs may lead to additional sliding 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.”