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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 reports Tennessee Gas Prices Rise 3 Cents

November 6, 2017 | Email This Post Print This Post
 

Clarksville-Montgomery County has Second Cheapest Gas Prices in Tennessee

AAANashville, TN Motorists may see higher gas prices this week, after oil and wholesale gasoline prices made solid gains last week. 

Tennessee gas prices rose for the sixth consecutive day on Sunday, snapping a 50-day streak of declines that resulted in a total discount of 35 cents. Gas prices averaged $2.28 on Sunday.

Strong Demand Puts Upward Pressure on Gas Prices.

Strong Demand Puts Upward Pressure on Gas Prices.

The state average is 3 cents more than a week ago, and 22 cents more than this time last year. 

Although most metro areas saw pump prices rise a couple of pennies, the biggest weekly increases were seen in Cleveland (+12 cents), Knoxville (+10 cents), Morristown (+9 cents), and Johnson City (+4 cents).

Highest and Lowest Gas Prices in Tennessee

  • The most expensive gas price averages in Tennessee are in Nashville ($2.33), Memphis ($2.30), and Knoxville ($2.29)
  • The least expensive gas price averages in Tennessee are in Chattanooga ($2.15), Clarksville-Hopkinsville ($2.24), and Johnson City-Kingsport-Bristol ($2.25)
    • Click here to view the list of state and metro gas price averages 

Gasoline Demand in October Finishes at an 11-Year High

  • Gasoline demand hit 9.45 million b/d, which is roughly 150,000 b/d more week-on-week and the highest end-October figure since 2006, according to EIA’s report for the week ending on October 27.
  • Gasoline storage levels dropped by 4 million barrels, signaling that domestic demand remains strong as the national settles into autumn.
  • Gasoline production moved higher to 10.175 million barrels per day, reflecting a production level that’s close to where it was prior to the highly active hurricane season. 
  • Oil prices climbed nearly $4 during the past two weeks. WTI reached $55.64/b on Friday – the highest daily settlement since July 2015.
  • The price of gasoline on the NYMEX rose 15 cents in the last 11 sessions.
  • Wholesale gasoline prices rose an average of 7 cents in the southeastern U.S. 

“Drivers are seeing pump prices increase in some markets, due to higher demand and falling supply levels,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “It would not be a surprise to see gas prices rise 5-10 cents this week, since wholesale prices rose an average of 7 cents last week. However, longterm fall gasoline demand is expected to drop in November, which should prevent any significant spike in gas prices before the end of the year.”

Highs and Lows of 2017*

  • National: the highest average price for gasoline was $2.67 on September 8. The lowest was $2.23 on July 5.
  • Tennessee: the highest average price was $2.60 on September 10. The lowest was $1.99 on July 5.

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Current and Past Price Averages

Regular Unleaded Gasoline

Sunday Saturday Week Ago Month Ago One Year Ago Highest Price on Record
National $2.527 $2.524 $2.466 $2.523 $2.222 $4.114 (7/17/2008)
Florida $2.398 $2.398 $2.399 $2.573 $2.209 $4.079 (7/17/2008)
Georgia $2.348 $2.349 $2.359 $2.565 $2.240 $4.164 (9/15/2008)
Tennessee $2.283 $2.282 $2.252 $2.427 $2.060 $4.118 (9/15/2008)
Click here to view current gasoline price averages

 

Gas Price Survey Methodology

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 9.4 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 57.7 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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