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AAA reports Gas Stocks Increase pushes Gas Prices Cheaper

 

AAA Predicts More Than 55 Million Americans will Travel for Thanksgiving

AAANashville, TN – AAA says Tennessee’s state average of $2.31 is four cents less than last week, four cents lower than one month ago, and 10 cents less than this time last year. Tennessee has the 10th lowest state average in the nation.

Today’s national average of $2.59 is two cents cheaper than last week, six cents less than last month and three cents cheaper than this time last year.

Gas prices fall ahead of Thanksgiving travel. (AAA)

Gas prices fall ahead of Thanksgiving travel. (AAA)

On the week, gas prices are mostly cheaper across the country. A small number of states saw pump prices decrease more than a dime, though the majority saw fluctuation of a few pennies.

“An increase in gasoline stocks amid robust demand helped to push gas prices cheaper on the week,” said Jeanette Casselano, AAA spokesperson.

“We would expect this trend to continue throughout most of the month, but the exception is Thanksgiving. With nearly 49.3 million Americans expected to travel by car for the holiday, gas prices may start to fluctuate by the end of this week,” Casselano stated.

Crude oil

At the close of Friday’s formal trading session on the NYMEX, WTI increased by 95 cents to settle at $57.72. Crude prices increased last week (despite the EIA’s report that domestic crude inventories increased) due to increased optimism that China and the United States – the world’s two largest crude consumers – are continuing to resolve ongoing trade tensions that sparked market fears that global crude demand would suffer as a result of increased tariffs between both countries.

Current and Past Price Averages

Regular Unleaded Gasoline

Monday Sunday Week Ago Month Ago One Year Ago 2018 High Record High
National $2.597 $2.600 $2.618 $2.656 $2.625 $2.97 
(5/26/2018)
$4.11
(7/17/2008)
Tennessee $2.317 $2.323 $2.352 $2.344 $2.415 $2.73 
(5/27/2018)
$4.12  
(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 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 9.9 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 60 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. Visit AAA on the Internet at AAA.com.

 


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