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Information Articles for the Paris TN and Henry County Tennessee area

AAA reports Gas Prices Surge at Pump

April 12, 2017 | Email This Post Print This Post
 

AAATampa, FLGas prices are rising across the country. The national average price for a gallon of regular unleaded jumped 7 cents in the past week. Sunday’s average of $2.39 is the highest since September 2015.

Also in the past seven days, gas prices rose 12 cents in Florida, 8 cents in Georgia, and 7 cents in Tennessee. Florida’s average price of  $2.42 is the highest since August 2015. Georgia’s average price of $2.28 is the highest since October 2016. Tennessee’s average of $2.14 is the highest since January 2017.

The United States average is the highest price since September 2015.

The United States average is the highest price since September 2015.

“This is the type of volatility we’ve come to expect this time of year,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “The major factors weighing on the market right now are supply and demand.”

“People are beginning to drive more as the weather improves, causing an uptick in demand and a decline in gasoline inventories. Also, many refineries have begun producing and selling summer-blend fuels which are more expensive to produce. AAA forecasts the national average to peak around $2.70 this summer,” stated Jenkins.

The crude oil market has largely recovered after spending nearly three weeks under $50.00 a barrel. Friday’s daily settlement of $52.24/b is the highest since March 7th.

Biggest Weekly
Gas Price Hike
1. Kentucky +15 cents

2. Michigan +12 cents

3.
Florida +12 cents

4. Indiana +11 cents

5. Missouri +9 cents

9.
Georgia +8 cents

15. Tennessee +7 cents

Primary factors contributing to increased crude oil prices include the seasonal uptick of driving demand, continued uncertainty around an extension of OPEC production cuts and increased U.S. production.

Oil prices also received a temporary boost on Friday, following the U.S. launch of cruise missiles at a Syrian airfield base. Although Syria has little oil production, their location and alliances with other oil producing countries has led to speculation about how further geopolitical unrest may affect global oil supply.

Traders will keep a close eye on political dynamics of the Middle East and any further discussions between OPEC and non-OPEC producers. 

Daily national, state, and metro gas price averages can be found at Gasprices.aaa.com. Motorists can find the lowest gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.

Fuel Fundamentals

(Based on weekly EIA data)

  • U.S. crude inventories rose 0.28 percent to 535.5 million barrels
  • Domestic crude production rose 0.57 percent to 9.2 million barrels per day
  • Gasoline demand is .23 percent higher than this time last year
  • Gasoline inventories declined nearly 8 percent compared to the week before
  • Gasoline production declined more than 5 percent nationwide and at refineries along the Gulf Coast
  • Refineries operated at a1-percent lower capacity than the week before
  • Oil prices averaged $52.27 last week; nearly $2 more than the week before 

Regional Gas Prices

Florida gas prices rose 12 cents in the past week; the 3rd-largest spike of any state in the country. Sunday’s state average of $2.42 is the highest since August 2015.  

  • The most expensive metro markets are West Palm/Boca Raton ($2.53), Fort Lauderdale ($2.48), and Miami ($2.46)
  • The least expensive metro markets are Pensacola ($2.35), Tallahassee ($2.36), and Jacksonville ($2.39)

Georgia gas prices rose 8 cents last week; the 9th-largest spike of any state in the country. Sunday’s state average of $2.28 is the highest since October 2016.

  • The most expensive metro markets in the state are Atlanta ($2.31), Savannah ($2.29), and Athens ($2.28)
  • The least expensive metro markets in the state are Augusta/Aiken ($2.16), Columbus ($2.19), and Macon ($2.20)

Tennessee gas prices rose an average of 7 cents; the 15th-largest weekly spike of any state in the country. Sunday’s state average of $2.14 is the highest since January 2017.  

  • The most expensive metro markets in the state are Memphis ($2.17), Nashville ($2.16), and Johnson City/Kingsport/Bristol ($2.10)
  • The least expensive metro markets in the state are Clarksville/Hopkinsville ($2.09), Chattanooga ($2.10), and Knoxville ($2.10)

 Motorists can find the lowest gas prices in their area by downloading the free AAA Mobile app.

Current and Past Price Averages

Regular Unleaded Gasoline

Sunday Saturday Week Ago Month Ago One Year Ago Highest Price on Record
National $2.387 $2.385 $2.323 $2.304 $2.042 $4.114 (7/17/2008)
Florida $2.421 $2.421 $2.300 $2.284 $2.048 $4.079 (7/17/2008)
Georgia $2.275 $2.272 $2.199 $2.198 $2.006 $4.164 (9/15/2008)
Tennessee $2.140 $2.138 $2.069 $2.060 $1.861 $4.118 (9/15/2008)
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, insurance, financial services and travel 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 57 million members in the United States and Canada and whose mission includes protecting and advancing freedom of mobility and improving traffic safety. Motorists can map a route, identify gas prices, find discounts, book a hotel, and access AAA roadside assistance with the AAA Mobile app for iPhone, iPad and Android.

Learn more at AAA.com/mobile. AAA clubs can be visited on the Internet at AAA.com.

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