Georgia gasoline prices dropped a significant six cents over the past week. 

According to AAA’s weekly report, gasoline prices in Georgia reached an average cost of $2.81 per gallon for regular unleaded. EV charging rates at DC fast-charging stations remained stable at 36 cents per kWh nationally, and 38 cents in Georgia.

“Falling crude oil prices and lower demand are keeping downward pressure on gas prices,” said Montrae Waiters, spokeswoman for AAA-The Auto Club Group. “While it’s unclear how long this trend will last, Georgians should take advantage of the savings and keep an eye on price changes in their area.”

Gasoline prices in Cobb County

The price of a gallon of regular unleaded in Cobb County averages around $2.80, about one cent cheaper 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:

⛽ Nationally Gas Prices Slide Toward $3 Mark

The national average for regular gasoline has dipped to $3.03, down 5 cents from the previous week. This decline is fueled by softer crude oil prices, a seasonal drop in demand, and the rollout of more affordable winter-blend fuel. With minimal storm activity in the tropics, prices could continue to slide, a welcome shift for drivers as colder weather approaches.

According to the Energy Information Administration (EIA), gasoline demand declined from 8.91 million barrels per day to 8.45 million. Domestic supply also edged down slightly, slipping from 219.1 million barrels to 218.8 million. Meanwhile, gasoline production averaged 9.4 million barrels per day last week, marking a modest decrease.

Electric:

Electric vehicle drivers saw no change in charging costs this past week, with the national average holding steady at 36 cents per kilowatt-hour. To plan ahead, drivers can check charging prices along their route using AAA’s 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.”