According to AAA’s weekly report, gasoline prices in Georgia showed little movement over the past week. Prices rose one cent to an average cost of $2.92 per gallon for regular unleaded. EV charging rates remained steady at a national average of 34 cents per kilowatt hour.

“Georgia gas prices saw minimal or no change at the pumps across the state,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “However, the unpredictable atmosphere surrounding tariffs and their impact on the global stage could push those prices higher this week.”

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 and EV charging rates?
3. What causes fluctuations in gasoline prices?
4. 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 $2.923, about the same as 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:

Quiet Week at the Pump as Gas Prices Fluctuate Slightly

Since last Monday, the national average price for a gallon of regular gasoline has increased by 2 cents to $3.16, subject to change overnight. Even though this is the time of year when we typically see seasonal increases and rising demand, crude oil prices have been plunging. A couple of factors are at play: economic concerns and the decision by OPEC+ (the group of oil-producing countries) to increase output and add more oil to the market, despite tepid demand. The lower the oil price, the less drivers pay at the pump. The national average is almost 50 cents less than it was this time last year.  

According to new data from the Energy Information Administration (EIA), gasoline demand decreased from 9.41 barrels a day last week to 9.09. Total domestic gasoline supply decreased from 229.5 million barrels to 225.5 million barrels.

Oil Market Dynamics

At the close of last Wednesday’s formal trading session, WTI fell $2.21 to settle at $58.21 a barrel. The EIA reports that crude oil inventories decreased by 2.7 million barrels from the previous week. At 440.4 million barrels, U.S. crude oil inventories are about 6% below the five-year average for this time of year.      

Electric:

Meanwhile, the national average per kilowatt-hour of electricity at a public EV charging station remained at 34 cents today.  Drivers can find electric charging prices along their route using the AAA TripTik Travel Planner.

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.”