{"id":12826,"date":"2017-07-24T10:00:14","date_gmt":"2017-07-24T15:00:14","guid":{"rendered":"http:\/\/www.paristn.net\/articles\/?p=12826"},"modified":"2017-07-24T04:35:49","modified_gmt":"2017-07-24T09:35:49","slug":"aaa-reports-summer-to-end-with-higher-gas-prices","status":"publish","type":"post","link":"https:\/\/www.paristn.net\/articles\/2017\/07\/24\/aaa-reports-summer-to-end-with-higher-gas-prices\/","title":{"rendered":"AAA reports Summer to end with Higher Gas Prices"},"content":{"rendered":"

Clarksville-Montgomery County has the cheapest Gas Prices in Tennessee<\/h2>\n

\"AAA\"Tampa, FL – <\/strong>Gas prices have been on a rollercoaster ride this summer. After rising in the spring, then taking a nosedive last month, pump prices are climbing once again, only to setup for another plunge in the fall.<\/p>\n

The average price for gasoline in Tennessee<\/a> rose 3 cents during the past week. The state average on Sunday was $2.05. Motorists using the AAA Mobile App<\/a> are finding prices between $1.90 and $2.30.<\/p>\n

\"Gas<\/a>

Gas Prices are starting to climb.<\/p><\/div>\n

Fewer than half (43%) of gas stations in Tennessee are selling regular unleaded for less than $2 a gallon.<\/p>\n

So far this year, the price of regular unleaded averaged $2.08 in Tennessee; 20 cents more than the same period last year.<\/p>\n

\u201cConsumers saw a sudden swing at the pump last week, as summer demand soars and crude inventories declined,\u201d said Mark Jenkins, AAA \u2013 The Auto Club Group. \u201cGas prices should trend higher through the second half of the summer, and could challenge this year\u2019s high of $2.18 before it\u2019s all over. Fortunately, gas prices will drop after Labor Day, as demand weakens and refiners switch to winter-blend gasoline.\u201d<\/p>\n

Futures Prices Rise on Declining Crude\/Gasoline Inventories<\/h3>\n

The price of crude oil rose to its highest daily settlement in 6 weeks (47.12 per barrel). The price-hike followed EIA’s weekly supply report, showing a larger-than-expected decline in crude oil supplies. Crude slipped lower by the end of the week, settling at $45.77, after concerns emerged about OPEC\u2019s rising production for the month of July.<\/p>\n

Petro-Logistics, a company that tracks OPEC\u2019s supply and output, forecasts OPEC production to grow by 145,000 barrels per day. Moreover, the Energy Information Administration\u2019s latest report showed that although crude oil inventories declined by 4.4 million bbl, when  compared with the five-year average, the surplus still stands at well over 75 million bbl.<\/p>\n

High inventories have placed a spotlight on OPEC\u2019s production growth, especially with its reduced output agreement in place through March 2018. All eyes will be on the OPEC and non-OPEC committee meeting on July 24th in St. Petersburg, Russia, where the status of the agreement will be discussed to see if the cartel takes additional steps to deepen the agreement\u2019s impact on the market.<\/p>\n

Gas Price Tools for Reporters\/Consumers<\/strong><\/p>\n