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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

Tennessee Gas Prices Face Upward Pressure

July 30, 2018 | Email This Post Print This Post
 

AAA

AAATampa, FL Gas prices rose 2 cents nationwide last week, as prices in the southeast face upward pressure. Wholesale gasoline prices rose 8 cents in Florida and Georgia, and 7 cents in Tennessee.

Gas prices in Tennessee held steady last week, but face upward pressure heading into Monday. Wholesale prices rose 6 cents in the past few days, raising the price for retailers to fill their tanks. 

Gas Prices Face Upward Pressure on Strong Demand.

Gas Prices Face Upward Pressure on Strong Demand.

Gas prices in Tennessee averaged $2.61 per gallon on Sunday. The state average is 2 cents more than a month ago and 53 cents more than a year ago. 

“Motorists may see higher gas prices this week,” said Mark Jenkins, spokesman, AAA – The Auto Club Group.

Click here to view AAA’s state and metro gas price averages

Tennessee’s Highest and Lowest Gas Prices

  • The most expensive gas price averages in Tennessee are in Jackson ($2.67), Memphis ($2.65), and Nashville ($2.64)
  • The least expensive gas price averages in Tennessee are in Cleveland ($2.52), Chattanooga ($2.54), Kingsport-Bristol ($2.56)
Average Summer Gas Prices
  2014 2015 2016 2017 Today
National $3.57 $2.71 $2.23 $2.31 $2.86
Florida $3.50 $2.58 $2.19 $2.25 $2.74
Georgia $3.48 $2.57 $2.11 $2.18 $2.72
Tennessee $3.35 $2.45 $2.03 $2.08 $2.61

 

“Strong demand and lower inventories pushed wholesale prices higher. The added cost for retailers will likely be passed along to motorists. Based on demand figures, summer drivers are unfazed by higher prices at the pump this year. Fortunately, a potential 5-10 cent increase this week would still leave pump prices below this year’s highs,” stated Jenkins.

Although oil prices held relatively steady last week, gasoline futures surged for the second week. The price for gasoline on the NYMEX rose a total of 16 cents during the past two weeks, pushing wholesale gas prices higher. Gasoline rose in response to EIA data that showed a dip in gasoline supply inventories, as gasoline demand reaches near record levels. Gasoline demand for the week of July 20th, was the fourth highest weekly rate this year. 

Gas Price Tools

Fuel Savings Tips

Drive Sensibly – Aggressive driving (speeding, rapid acceleration and braking) wastes gas.

  • Gas mileage can be reduced 15-30% at highway speeds / 10-40% in stop-and-go traffic
  • The equivalent of 27¢ – $1.08 per gallon

 

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Observe the speed limit

  • Not only is it safer – but it can help you save money
  • Gas mileage rapidly declines at speeds above 50 mph
  • Every 5 mph you drive over 50 mph is like paying an additional 19 cents per gallon for gasoline

Lose the weight

  • Using your trunk for storage can cost you by way of lower fuel economy
  • Remove unnecessary items from your vehicle.
  • An extra 100 pounds in your vehicle reduces your miles per gallon by about 1%
  • Like paying an additional 3 cents per gallon for every 100 pounds

Use cruise control

  • Cruise control on the highway helps you maintain a constant speed
  • Conversely, constant throttling at high speeds consumes gasoline much faster

Avoid excess idling

  • Idling uses a quarter to a half gallon of fuel per hour
  • Turn off your engine when your vehicle is parked
  • It only takes 10 seconds worth of fuel to restart your vehicle

Combine trips

  • Saves time and money
  • Fuel economy is better when your engine is warmed up and you make multiple stops

Inflate tires

  • Keeping your tires inflated to the proper pressure can improve your gas mileage up to 3%
  • It can mean the difference of a couple cents per gallon
  • Find the recommended tire pressure on a sticker located on the driver’s side door jamb

 

Current and Past Price Averages

Regular Unleaded Gasoline

Sunday Saturday Week Ago Month Ago One Year Ago Highest Price on Record
National $2.857 $2.857 $2.843 $2.853 $2.309 $4.114 (7/17/2008)
Florida $2.735 $2.733 $2.754 $2.709 $2.292 $4.079 (7/17/2008)
Georgia $2.721 $2.720 $2.704 $2.688 $2.178 $4.164 (9/15/2008)
Tennessee $2.608 $2.609 $2.610 $2.591 $2.078 $4.118 (9/15/2008)
Click here to view current gasoline price averages

 

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Gas Price Survey Methodology

AAA updates fuel price averages daily at www.GasPrices.AAA.com. Every day up to 130,000 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 9.5 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 58 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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