Tennessee Gas Prices go up 5 Cents

Nashville, TN – AAA reports that the Tennessee gas price average rose five cents over last week in the aftermath of Hurricane Ida. Holiday travelers also found the most expensive Labor Day gas prices in seven years. The Tennessee Gas Price average is now $2.91 which is nearly two cents more than one month ago and nearly 94 cents more than one year ago. 

“Historically, gas demand starts to decline in the fall as schools reopen and summer road trips end, which leads to less expensive gas prices,” said Megan Cooper, spokesperson, AAA – The Auto Club Group. “Despite the dip in demand, the national average is expected to remain above $3/gallon especially as crude oil continues to price on the higher end.”

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AAA reports Gas Price Average could see Temporary Hike after Hurricane Ida

Washington, D.C. – According to AAA, the national gas price average decreased by two cents as of Sunday, the cheapest price since early July, but was back up a penny to $3.15 Monday morning following Hurricane Ida.

The storm has left more than one million people in Louisiana and Mississippi without power and has likely taken about 13% of U.S. refining capacity offline. There were nine oil refineries in Ida’s path; at least four were believed to have shut down operations ahead of the storm.

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AAA says Hurricane Ida Likely to Cause Gas Price Fluctuations

Nashville, TN – The Tennessee gas price average held steady over last week, however, the aftermath of Hurricane Ida is likely to cause gas price fluctuations leading into Labor Day weekend.

The Tennessee Gas Price average is now $2.85 which is four cents less than one month ago and 86 cents more than one year ago. 

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AAA reports that Crude Oil Price Drops $5.00/bbl to Lowest Price since May

Washington, D.C. – Crude oil prices saw a significant decline of $5.00/bbl on the week, down to $62.32/bbl at Friday’s close. Prices are declining as market concerns grow that crude demand will decline as coronavirus infections increase across the globe. The downward crude price trend could spell good news for motorists.

“Crude oil prices saw not only a dramatic drop on the week, but the price per barrel is at the cheapest in three months,” said Jeanette McGee, AAA spokesperson.

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AAA reports Tennessee Gas Prices Fall Almost Three Cents

Clarksville-Montgomery County has the Third Lowest Gas Prices in Tennessee

Nashville, TN – The Tennessee gas price average declined for the second week in a row, falling nearly three cents over last week. The Tennessee Gas Price average is now $2.84 which is two cents less than one month ago and 93 cents more than one year ago. 

“Crude oil prices saw not only a dramatic drop on the week, but the price per barrel is at the cheapest in three months,” said Megan Cooper, spokeswoman, AAA – The Auto Club Group. “If this downward trend continues and less expensive prices are sustained, Tennesseans can expect to see additional relief at the pump in the near future. This week, Tennessee is the 5th least expensive market in the nation.”

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AAA reports National Gas Price Average Stabilizes

Washington, D.C. – New data from the Energy Information Administration (EIA) showed that gas demand and supply decreased.

Moving from 9.78 million b/d to 9.43 million b/d last week, the latest demand measurement is 500,000 b/d lower than the rate at this time in 2019, signaling that summer gas demand is likely softening as the school year starts and concerns about transmission of COVID-19 Coronavirus grow as infection rates continue to increase.

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AAA reports Tennessee Gas Price Average drops almost Two Cents

Nashville, TN – The Tennessee gas price average declined slightly over last week, falling nearly two cents, on average. The Tennessee Gas Price average is now $2.87 which is a penny less than one month ago and 97 cents more than one year ago. 

“Leading up to Labor Day, pump price fluctuations are likely to continue due to high crude oil prices,” said Megan Cooper, spokesperson, AAA – The Auto Club Group. “Traditionally, gas demand typically drops considerably at the end of the summer which brings much-needed relief at the pump to drivers in the fall and winter driving seasons.”

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AAA reports Tennessee Gas Prices remain Steady

Nashville, TN – The Tennessee gas price average held steady over last week. The Tennessee Gas Price average is now $2.89 which is the same price as one month ago and 99 cents more than one year ago. 

“We continue to see very robust gasoline demand for the peak summer driving season,” said Megan Cooper, spokeswoman, AAA – The Auto Club Group. “The latest demand rate was 2% higher than the same time period in 2019, while gasoline stocks are about 1% below.”

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AAA reports National Gas Price Average Jumps to Highest Price of the Year

Washington, D.C. – Crude oil prices dropped below $70.00/bbl at the end of last week in reaction to concerns about the delta variant, growing COVID-19 Coronavirus case numbers, and the possibility of potential lockdowns. While crude is a little cheaper, gas prices are still positioned to remain high in August.

Today’s national average is $3.19. That is the most expensive gas price average of the year as well as $1.02 more than a year ago, a nickel more than a month ago, and two cents more than a week ago.

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AAA reports Gas Prices have risen 15 cents since May

Washington, D.C. – Americans are paying a pretty penny to hit the road this summer. The monthly national gas price average has increased from $3.00 in May to $3.07 in June to $3.15 in July. The beginning of August will likely be as expensive as July, especially as crude oil prices remain over $70.00 per barrel.

An increase in global crude production is expected this month. However, even with the additional supply, global demand could outpace global supply and keep prices high.

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