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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 Decline after Small Hike

August 6, 2018 | Email This Post Print This Post
 

AAA

AAATampa, FL Prices at the pump increased last week as anticipated, yet are pointing lower again as we move into Monday. 

Gas prices in Tennessee increased 4 cents during the past week. Sunday’s state average of $2.65 is 4 cents more than a month ago and 51 cents more than last year. 

Gas prices in July averaged $2.61 per gallon. That was the highest monthly average for July since 2014.

AAA says gas prices are dropping again. (AAA)

AAA says gas prices are dropping again. (AAA)

Summer gas prices are poised to be the most expensive in four years. Since June 1st, Tennessee gas prices averaged $2.63 per gallon – 55 cents more than the average price last summer. 

“Prices at the pump have pinballed around this summer, but fortunately have remained within a 20 cent range,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “The limited swings in pump prices and a strong economy has led to one of the biggest driving summers in history. Prices should slip lower this week, due to falling futures prices on the stock market. However, demand historically remains strong through August, which should prevent prices from slipping anywhere near the lows we saw last year.”

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

  • The most expensive gas price averages in Tennessee are in Jackson ($2.69), Nashville ($2.69), and Memphis ($2.66)
  • The least expensive gas price averages in Tennessee are in Chattanooga ($2.58), Johnson City ($2.58), Kingsport-Bristol ($2.58)
Average Summer Gas Prices
  2014 2015 2016 2017 Today
National $3.57 $2.71 $2.23 $2.31 $2.87
Florida $3.50 $2.58 $2.19 $2.25 $2.76
Georgia $3.48 $2.57 $2.11 $2.18 $2.77
Tennessee $3.35 $2.45 $2.03 $2.08 $2.65

 

EIA data released on Wednesday showed signs that the summer driving season remains in full throttle. Weekly gasoline demand numbers reached near record highs. That strong demand has cut deeply into supply levels – which declined five consecutive weeks, for a total decline of nearly five percent. 

As demand surges, refineries are working hard. Gasoline production for the week ending July 27th, was 2 percent stronger than a year ago, and the fifth-highest weekly rate in history – the highest was the week of Independence Day 2018.

Crude production remains about 16.3 percent stronger than last year. Although oil inventories increased nearly 1-percent, supplies remain 15 percent below last year.

Gas Price Tools

 

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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

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 $2.867 $2.870 $2.857 $2.866 $2.346 $4.114 (7/17/2008)
Florida $2.755 $2.758 $2.735 $2.724 $2.288 $4.079 (7/17/2008)
Georgia $2.774 $2.774 $2.721 $2.714 $2.231 $4.164 (9/15/2008)
Tennessee $2.652 $2.653 $2.608 $2.609 $2.139 $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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