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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 Tennessee Gas Prices on the Downturn

May 1, 2017 | Email This Post Print This Post
 

AAATampa, FLTennessee gas prices declined for the 10th consecutive day on Sunday. The state average dropped 2 cents last week, and motorists should see another round of falling prices this week.

“Gas prices were knocked off their seasonal upward trend, when new data revealed record-high refinery activity, setting off market concerns of a gasoline glut,” said Mark Jenkins, spokesman, AAA – The Auto Club Group.

Gas Prices push lower amid market concerns of a gasoline glut.

Gas Prices push lower amid market concerns of a gasoline glut.

“When refineries finished spring maintenance season, they accelerated production to levels that have outpaced demand. Because of this unexpected shift in fundamentals, motorists have likely seen the highest prices for the foreseeable future and retail prices should fall a few more cents this week,” Jenkins stated.

The Tennessee average retail price of $2.15 is 24 cents less than the national average, according to data provided by AAA, from a collection of 120,000 gas stations nationwide, based on credit card swipes and direct feeds in cooperation with the Oil Price Information Service (OPIS) and Wright Express for unmatched statistical reliability.  

April gas prices reached their highest monthly average in two years. According to historical AAA data, Tennessee gas prices averaged $2.15 in April, with daily retail prices ranging between $2.06 – $2.18 per gallon.

  • The most expensive Tennessee gas prices are in Knoxville ($2.17), Memphis ($2.17), and Nashville ($2.16)
  • The least expensive Tennessee gas prices are in Clarksville ($2.08), Chattanooga ($2.10), and Johnson City ($2.13)

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

Fuel Fundamentals

(Based on weekly data provided by the EIA)

  • Crude oil prices slipped to the lowest weekly average in a month ($49.43)
  • Wholesale gasoline futures prices plummeted last week, falling to the lowest level in 8 weeks
  • U.S. crude inventories decreased slightly, but remain near the upper limit of the average range
  • Domestic crude production climbed by 13,000 barrels per day 
  • Gasoline demand remains muted so far this year. Demand has been unable to match last year’s record highs, spurred by low pump prices.
  • Gasoline supplies rose 1.4 percent last week and nearing last year’s levels
  • Gasoline production ramped-up by 4.3 percent
  • Refineries are humming along at record levels in the wake of stagnate demand

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

Current and Past Price Averages

Regular Unleaded Gasoline

Sunday Saturday Week Ago Month Ago One Year Ago Highest Price on Record
National $2.388 $2.392 $2.420 $2.305 $2.208 $4.114 (7/17/2008)
Florida $2.419 $2.425 $2.458 $2.291 $2.208 $4.079 (7/17/2008)
Georgia $2.257 $2.262 $2.282 $2.167 $2.162 $4.164 (9/15/2008)
Tennessee $2.152 $2.155 $2.173 $2.044 $2.041 $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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