Gasoline prices in Georgia continued to decline over the past week.

According to AAA’s weekly report, the price dropped, reaching an average cost of $3.15 per gallon for regular unleaded.

“Georgia pump prices keep on giving, which is great news for drivers,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “It is all thanks to the low cost of crude oil that’s making filling up your tank a lot easier on your wallet. The tide could change at any moment, let us not forget we are still in the initial stages of hurricane season, and unpredictable things like storms or world events could shake things up and send oil prices climbing again.”

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 $3.223, roughly seven 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:

Pump Prices Plunge

Since last Monday, the national average for a gallon of regular gasoline decreased by 6 cents to $3.35 (subject to change overnight). Reaching a price point not seen since March 6^th. According to new data from the Energy Information Administration (EIA), gas demand crept higher last week from 9.04 million barrels a day to 9.19. Meanwhile, total domestic gasoline stocks fell from 222.2 to 220.6 million barrels, but gasoline production increased, averaging 9.8 million daily. Mild gasoline demand, steady supply, and low oil costs may cause pump prices to slide further.

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.”