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Information Articles for the Paris TN and Henry County Tennessee area

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Information Articles for the Paris TN and Henry County Tennessee area

AAA says February Gas Prices were highest in Three Years

March 3, 2017 | Email This Post Print This Post
 

AAATampa, FL – Motorists paid the highest gas prices for the month of February in three years. The monthly average for a gallon of regular unleaded was $2.28 nationally, $2.28 in Florida, $2.18 in Georgia, and $2.06 in Tennessee.

Compared to February 2016, these averages were an increase of 55 cents (US), 51 (FL & GA), 52 cents (TN). The average cost for a full tank of gas was $34.00 – $8.00 more than February 2016. 

Gas Prices could rise 30 cents in March. (AAA)

Gas Prices could rise 30 cents in March. (AAA)

Gas Prices on the Move

Although previous years saw significant price swings during the month of February, pump prices this year remained relatively stable. In total, average prices declined 3 cents in Florida, and increased 1-cent nationwide and 4 cents in Georgia. There was no change in Tennessee’s state average. In years prior, February gas prices fell 5 cents in 2016, but rose 34 cents in 2015 and 17 cents in 2014.

AVERAGE GAS PRICES IN FEBRUARY U.S. FLORIDA GEORGIA TENNESSEE WTI OIL (average price per barrel)
2017 $2.279 $2.282 $2.184 $2.063 $53.46
2016 $1.730 $1.768 $1.672 $1.536 $30.32
2015 $2.230 $2.275 $2.157 $2.074 $50.58
2014 $3.342 $3.384 $3.225 $3.145 $100.82
2013 $3.654 $3.724 $3.591 $3.466 $95.31

 

“February usually signals the start of a seasonal upswing in gas prices, but that did not happen this year,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “Oil prices held steady between $52.00 and $54.00, which kept a lid on gas prices. However, the final day of February delivered a slightly higher pump price, which could be a hint of things to come. 

“Gas prices usually follow an upward trend from February to Memorial Day,” Jenkins continued. “In the past five years, prices rose between 35-75 cents during that four month period. This happens because refineries enter maintenance season, causing them to produce less gasoline at a time when demand is on the rise. If oil prices remain steady, pump prices would likely stay in the low end of the historical range.”

Gas Prices Usually Rise in March 

In March 2016, average prices rose a total of 30 cents (US), 32 cents (FL), 36 cents (GA), and 36 cents (TN). During this time, the price for a barrel of WTI crude oil climbed $7 – which would normally signal a shift of only 18 cents at the pump, but supply & demand fundamentals pushed prices even higher.

The 2016 price hike was the highest for the month of March in more than a decade. Before that, intramonthly prices did not rise more than 25 cents. The 5-year average for price increases during the month of March is 9 cents (US), 11 cents (FL), 7 cents (GA), and 9 cents (TN). 

AVERAGE GAS PRICES IN MARCH U.S. FLORIDA GEORGIA TENNESSEE

WTI Oil (average price per barrel)

2016 $1.929 $1.953 $1.872 $1.754 $37.55
2015 $2.433 $2.460 $2.260 $2.182 $47.82
2014 $3.507 $3.527 $3.346 $3.263 $100.80
2013 $3.695 $3.739 $3.600 $3.507 $92.94
2012 $3.829 $3.839 $3.736 $3.652 $106.16

Current and Past Price Averages

Regular Unleaded Gasoline

Tuesday Monday Week Ago Month Ago One Year Ago
National $2.289 $2.286 $2.281 $2.282 $1.746
Florida $2.276 $2.275 $2.280 $2.316 $1.740
Georgia $2.213 $2.209 $2.179 $2.183 $1.660
Tennessee $2.070 $2.068 $2.061 $2.083 $1.526
Click here to view current gasoline price averages

 

AAA updates fuel price averages daily at www.GasPrices.AAA.com. Every day up to 120,000 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.

About The Auto Club Group

The Auto Club Group (ACG) is the second largest AAA club in North America.  ACG and its affiliates provide membership, travel, insurance and financial services offerings to over 9 million members across eleven states and two U.S. territories including Florida, Georgia, Iowa, Michigan, Nebraska, North Dakota, Tennessee, Wisconsin, Puerto Rico and the U.S. Virgin Islands; most of Illinois and Minnesota; and a portion of Indiana. 

ACG belongs to the national AAA federation with more than 56 million members in the United States and Canada and whose mission includes protecting and advancing freedom of mobility and improving traffic safety.

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