Gasoline prices in Georgia continue to decline, consistent with the national trend, dropping seven cents per gallon on average for regular unleaded over the past week. But the recent rise in crude oil prices could initiate a reversal of this trend.
According to the weekly press release from Montrae Waiters, spokesperson for AAA – The Auto Club Group, drivers in Georgia are now paying an average of $3.18 per gallon.
“As the cost of living continues to rise in the United States, prices at the pumps in Georgia are falling,” Waiters said. “Cheaper crude oil prices generally lead to cheaper gas prices. This trend has helped prices at the pump steadily decline for months. However, we have seen oil prices recover, which could impact the future of pump prices.
The price of a gallon of regular unleaded in Cobb County is $3,328 at the time of this writing, about 15 cents more expensive than the state average. This 15-cent spread is typical of recent weeks, but consistent with higher prices in Fulton County, several adjacent counties west of Cobb.
It’s still possible to find lower than average gas prices by doing comparisons or using tools like http://gasbuddy.com.
AAA’s weekly report indicated the following on national oil and gas trends:
Since last Monday, the national average for a gallon of regular gas is down 4 cents to $3.67 (subject to change overnight). According to data from the Energy Information Administration (EIA), gas demand fell from 8.73 million barrels per day to 8.49 million barrels per day last week. Additionally, according to the EIA, total national gasoline inventories fell by 1.8 million barrels to 213 million barrels. Although demand for gasoline declined, fluctuating oil prices led to smaller declines in prices at the pump. If oil prices continue to rise, the national average will likely reverse as pump prices rise.
According to AAA:
AAA updates fuel price averages daily at www.GasPrices.AAA.com. Every day, up to 130,000 stations are queried based on credit card swipes and direct feeds in cooperation with the Petroleum Price Information Service (OPIS) and Wright Express for unparalleled statistical reliability. All average retail prices in this report are for one gallon of regular unleaded gasoline.