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AAA reports Gas Prices on Steady Decline

AAANashville, TN Gas prices are on a steep slide after reaching 3-year highs due to Hurricane Harvey and Hurricane Irma. Prices surged when Harvey struck refineries along the nation’s gulf coast. Then remained elevated as demand spiked in the southeastern U.S. following Hurricane Irma.

Now supply and demand levels are returning to normal, and prices are on the decline. 

Gas Prices Should Decline 5-10 Cents This Week.
Gas Prices Should Decline 5-10 Cents This Week.

“If it weren’t for the recent hurricanes, gas prices would be about 25 cents lower,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “Since gas prices decline much slower than they rise, it could take a few weeks before they reach equilibrium. Gas prices in the southeastern U.S. should drop another 5-10 cents this week.”

The average price in Tennessee has declined for the last 14 consecutive days, for a total discount of 8 cents, since peaking at $2.60 on September 10th. Tennessee gas prices averaged $2.52 on Sunday. The state average is 5 cents less than this time last week. Tennessee motorists are paying 35 cents more for a gallon of gasoline, compared to this time last year. 

  • The most expensive gas price averages in Tennessee are in Nashville ($2.59), Johnson City-Kingsport-Bristol ($2.53), Clarksville-Hopkinsville ($2.53), and Chattanooga ($2.52)
  • The least expensive gas price averages in Tennessee are in Memphis ($2.43), Knoxville ($2.50), and Chattanooga ($2.51)

Current and Past Price Averages

Regular Unleaded Gasoline

Sunday Saturday Week Ago Month Ago One Year Ago Highest Price on Record
National $2.576 $2.581 $2.627 $2.348 $2.211 $4.114 (7/17/2008)
Florida $2.670 $2.675 $2.714 $2.304 $2.148 $4.079 (7/17/2008)
Georgia $2.671 $2.677 $2.720 $2.222 $2.356 $4.164 (9/15/2008)
Tennessee $2.515 $2.518 $2.565 $2.138 $2.163 $4.118 (9/15/2008)
Click here to view current gasoline price averages

 

Gas Price Survey Methodology

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, insurance, financial services and travel offerings to over 9.4 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 57.7 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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