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HomeNewsAAA reports Summer Gas Prices Lowest in 12 years

AAA reports Summer Gas Prices Lowest in 12 years

AAATampa, FL – Americans paid the lowest gas prices for the Labor Day holiday weekend in since 2004. The national average of $2.22 is 24 cents less than Labor Day 2015, and $1.24 less than the holiday two years ago. 

“Despite the increased gasoline demand from holiday travelers, gas prices actually declined a couple of cents throughout the holiday weekend thanks to lower oil prices,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “Gas prices in the Fall should get even cheaper, because demand declines as Americans return to school and work.”

Gas prices declined during Labor Day weekend
Gas prices declined during Labor Day weekend

September Gas Prices Decline

On average, gas prices in September 2015 declined 15 cents in Georgia, 16 cents in Florida and Tennessee, and 17 cents nationwide. The monthly average prices were $2.34 (U.S.), $2.20 (FL), $2.19 (GA), and $2.05 (TN). During the past three years, gas prices declined an average of 12 cents nationwide, and 11 cents in Florida, Georgia, and Tennessee.

“Prices are stable now, but could be somewhat volatile in the next couple weeks, as refineries reduce output and begin seasonal maintenance. By the middle of the month, refineries switch to winter-blend gasoline, which is cheaper to produce, because it contains fewer additives than what the EPA requires for the hotter summer months. Refinery issues are known to happen during maintenance season, which can lead to increased prices at the pump,” Jenkins said.

Lowest Summer Gas Prices in 12 years

In addition to Labor Day, motorists enjoyed the lowest gas prices for the summer season since 2004. From June 1st – August 31st, 2016, the national average price for a gallon of regular unleaded was $2.23. Regionally, the summer averages were $2.19 in Florida, $2.11 in Georgia, and $2.03 in Tennessee. Prices responded to lower oil prices and increased fuel supply.

Current and Price Averages

Regular Unleaded Gasoline

Sunday Saturday Week Ago Month Ago One Year Ago Two Years Ago
National $2.218 $2.223 $2.205 $2.126 $2.447 $3.442
Florida $2.218 $2.220 $2.227 $2.055 $2.268 $3.360
Georgia $2.140 $2.141 $2.155 $1.981 $2.254 $3.358
Tennessee $2.024 $2.029 $2.040 $1.883 $2.115 $3.213
Click here to view current gasoline price averages

 

AAA updates fuel price averages daily at www.GasPrices.AAA.com. 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.

 

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