Clarksville, TN Online: News, Opinion, Arts & Entertainment.


AAA says Tennessee Gas Prices Rise for First Time in Nearly 10 Weeks

 

AAANashville, TN – The Tennessee Gas Price average is up this week after declining for nearly 10 consecutive weeks. The state gas price average is now $1.60 which is six cents more expensive than last week, four cents less than one month ago and 98 cents less than one year ago. 

“Tennessee motorists are seeing the first increases at the pump since late February,” said Megan Cooper, spokesperson, AAA – The Auto Club Group. “The boost in demand as the state begins its phased reopening is helping to push pump prices higher across the state.”

Gasoline demand increases as state phased reopening begins. (AAA)

Gasoline demand increases as state phased reopening begins. (AAA)

Quick Facts

  • 33% of Tennessee filling stations have sub-$1.50 gas prices
  • Tennessee is the 9th least expensive market in the nation
  • Tennessee gas prices declined for 69 consecutive days for a total discount of 70 cents per gallon
  • The lowest 10% of pump prices are $1.37 for regular unleaded
  • The highest 10% of pump prices are $1.94 for regular unleaded

National Gas Prices

The national gas price average is six cents more expensive on the week at $1.84, but still cheaper on the month and year – three cents and $1.02 less, respectively. Regardless of the national increase, 40 states still have averages of $2.00 or less per gallon.

The Energy Information Administration’s (EIA) latest data report showed demand for gasoline increased by 800,000 b/d to 6.7 million b/d last week, which is 3.2 million b/d less than last year at this time. Gas demand is expected to continue to grow, leading pump prices to continue their increase.

National Oil Market Dynamics

At the end of Friday’s formal trading session, WTI increased by $1.19 cents to settle at $24.74 per barrel. Crude prices increased last week amid growing market optimism that crude demand is rebounding as states re-open businesses and demand for gasoline has grown in recent weeks.

For this week, crude prices may continue to rise if the market believes that crude oil inventories are beginning to rebalance.

However, if crude storage levels continue to increase, crude prices could decline if the market continues to worry that the global market is oversupplied.


Tennessee Regional Prices

  • Most expensive metro markets –  Nashville ($1.75), Jackson ($1.61), Chattanooga ($1.60)
  • Least expensive metro markets – Kingsport ($1.48), Memphis ($1.51), Johnson City ($1.52)

Tennessee Gas Price Averages

(Price per gallon of regular unleaded gasoline)

vcsPRAsset_522440_105553_279a6033-181d-4f41-a971-72bcb183d553_0

Monday

Sunday

Week Ago

Month Ago

One Year Ago

Tennessee

$1.603

$1.597

$1.540

$1.641

$2.582

Chattanooga

$1.597

$1.592

$1.478

$1.580

$2.462

Knoxville

$1.563

$1.556

$1.498

$1.639

$2.550

Memphis

$1.508

$1.498

$1.443

$1.492

$2.586

Nashville

$1.747

$1.746

$1.699

$1.817

$2.638

Click here to view current gasoline price averages

 


About AAA – The Auto Club Group

The Auto Club Group (ACG) is the second largest AAA club in North America with more than 14 million members across 14 U.S. states, the province of Quebec and two U.S. territories. ACG and its affiliates provide members with roadside assistance, insurance products, banking and financial services, travel offerings and more.

ACG belongs to the national AAA federation with more than 60 million members in the United States and Canada. AAA’s mission is to protect and advance freedom of mobility and improve traffic safety.

For more information, get the AAA Mobile app, visit AAA.com, and follow us on Facebook, Twitter and LinkedIn.


Sections

News

Topics

, , , , , , , , , , , , , ,

Comments

You must be logged in to post a comment.


  • Visit Us On FacebookVisit Us On TwitterVisit Us On PinterestVisit Us On YoutubeCheck Our FeedVisit Us On Instagram
  • Personal Controls

    Archives