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Nashville, TN – The plunge at the pump continues this week, and now gas prices are poised to have their lowest start to the New Year since January 1st, 2016.
Americans are finding gas prices below $2.00 a gallon at 31% of filling stations in the United States. Since mid-October, the national average has plummeted a total of 61 cents. Thursday’s average price of $2.29 per gallon is the lowest since July 2017.
“Falling gas prices continue to be ‘the gift that keeps giving’ this holiday season,” said Mark Jenkins, spokesman, AAA – The Auto Club Group.
“Prices at the pump declined as AAA projected last week, largely due to weakness in the stock market and concerns about global crude oversupply. Although oil and gasoline futures have been on a rollercoaster ride this week, wholesale gas prices have held steady. Unless oil prices suddenly spike, prices at the pump should remain low through the end of the year,” stated Jenkins.
Drivers in Tennessee can now find gas prices below $2.00 a gallon at about 63 percent of gas stations throughout the state. Gas prices in Tennessee averaged $2.03 per gallon on Thursday, after declining 6 cents in the past week. Since mid-October, the state average has declined a total of 65 cents.
Tennessee motorists are now paying about 70 cents per gallon less than they did in May, and 22 cents per gallon less than this time last year.
Thursday’s state average price of $2.03 is the lowest daily average price since July 2017. It’s possible the state average could dip below $2.00 a gallon before the new year. The last time Tennessee gas prices averaged below $2.00 per gallon was on July 6th, 2017. During that time, crude oil was trading at around the same price as it is right now ($45.00 per barrel).
Click here to view AAA’s state and metro gas price averages
Holiday Gas Prices at 3-year Lows
Nationwide, holiday travelers enjoyed the lowest Christmas Day gas prices in two years. However, prices at the pump in Tennessee were even lower. Tennessee’s state average of $2.04 per gallon was the lowest daily average on Christmas Day in three years. The state average on New Year’s Day should also be at a 3-year low. Thursday’s average price of $2.03 is 23 cents less than January 1st, 2018.
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Gas Price Survey Methodology
AAA updates fuel price averages daily at www.GasPrices.AAA.com. Every day up to 130,000 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 9.6 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 59 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.
TopicsAAA, Bristol TN, Chattanooga TN, Christmas Day, Cleveland TN, Crude Oil, Gas Prices, Johnson City TN, Kingsport TN, Knoxville TN, Mark Jenkins, Nashville TN, New Year's Day, Oil Price Information Service, Oil Prices, OPIS, Tennessee, Tennessee Gas Prices, The Auto Club Group, Wright Express
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