Tampa, FL – Motorists saw modest movement at the gas pump last week. Gas prices inched higher in Florida, slipped slightly lower in Georgia, and remained the same in Tennessee.
“This is the type of volatility we expect to see at the pump this time of year, as supply and demand patterns shift,” said Mark Jenkins, spokesman, AAA – The Auto Club Group.
[1]Gas Prices drop some in Tennessee.
“Falling oil prices have helped offset inventory declines in most states, keeping gas prices low. Also, demand has been off to a slow start this year throughout most of the U.S.” stated Jenkins.
“However, it is beginning to ramp-up in Florida. We also saw a decline in gasoline inventories last week, which normally triggers rising prices at the pump. Gasoline demand in Florida surges in March, because there are more drivers visiting for Spring Break and Spring Training, combined with ‘winter residents’ who came to the sunshine state for a break from the cold,” Jenkins said.
Tracking Fuel Prices
- Daily national, state, and metro gas price averages can be found at Gasprices.aaa.com [2].
- Motorists can find the lowest gas prices along their route with the free AAA Mobile app [3]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 [3].
Crude oil prices remain low due to elevated U.S. inventories, rising production, and increased rig counts. The weekly average price for crude oil was $47.85 – 65 cents less than the week before. The weekly average declined for the fifth consecutive week, hitting the lowest level since November 25th, 2016.
Fuel Fundamentals
(Based on weekly data provided by the EIA)
- U.S. crude inventories increased by 5% to 533.1 million barrels – the upper limit of the average range for this time of year
- Domestic crude production increased 0.22% to 9,129,000 barrels – the highest daily production rate since February 2016
- Gasoline demand declined 0.58%. This is the third consecutive weekly decline in demand. The current level is 3.19% less than a year ago.
- Gasoline inventories decreased nationwide by 2.8 million barrels last week, which could be an indicator of rising prices in the future.
- Gasoline production increased 2.42% to 9.8 million barrels per day – nearly 1% higher than a year ago.
- Refineries operated at 87% capacity – up 2.5 percentage points from the week before. Gulf Coast refineries rose 3 percentage points from the week prior.
- The U.S. rig count rose again last week to 809 – up 3 percent from a week ago; 74 percent higher than last year.
Regional Gas Prices
Florida gas prices averaged $2.30 on Sunday – 4 cents more than a week ago, and 23 cents more than a year ago.
- The most expensive metro markets are west Palm Beach-Boca Raton ($2.45), Miami ($2.40), and Fort Lauderdale ($2.39)
- The least expensive metro markets are Tampa-St. Petersburg-Clearwater ($2.22), Orlando ($2.23), and Jacksonville ($2.23)
Georgia gas prices averaged $2.16 on Sunday – 1-cent less than a week ago, 17 cents more than a year ago.
- The most expensive metro markets in the state are Savannah ($2.20), Atlanta ($2.17), and Athens ($2.15)
- The least expensive metro markets in the state are Augusta-Aiken ($2.07), Macon ($2.11), and Albany ($2.11)
Tennessee gas prices averaged $2.04 on Sunday – the same price as last week, but 14 cents more than a year ago.
- The most expensive metro markets in the state are Memphis ($2.07), Nashville ($2.03), and Johnson City-Kingsport-Bristol ($2.06)
- The least expensive metro markets in the state are Chattanooga ($1.99), Clarksville-Hopkinsville ($2.00), Knoxville ($2.00)
Motorists can find the lowest gas prices in their area by downloading the free AAA Mobile app [4].
Current and Past Price Averages
Regular Unleaded Gasoline
 |
Sunday | Saturday | Week Ago | Month Ago | One Year Ago | Highest Price on Record |
| National | $2.286 | $2.288 | $2.293 | $2.286 | $2.036 | $4.114 (7/17/2008) |
| Florida | $2.296 | $2.297 | $2.264 | $2.277 | $2.065 | $4.079 (7/17/2008) |
| Georgia | $2.160 | $2.162 | $2.169 | $2.205 | $1.988 | $4.164 (9/15/2008) |
| Tennessee | $2.039 | $2.040 | $2.041 | $2.068 | $1.899 | $4.118 (9/15/2008) |
| Click here [2] to view current gasoline price averages | ||||||
AAA updates fuel price averages daily at www.GasPrices.AAA.com [2]. 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, travel, insurance and financial services 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 56 million members in the United States and Canada and whose mission includes protecting and advancing freedom of mobility and improving traffic safety.