Topic: Energy Information Administration
Nashville, TN – The Tennessee gas price average continues to increase and has risen nearly 8 cents since this time last week. The Tennessee Gas Price average is now $1.87 which is a quarter higher than one month ago and 50 cents less than one year ago.
“As Americans drive more, they are re-fueling gasoline demand levels, which is helping to lift pump prices, said Megan Cooper, spokesperson, AAA – The Auto Club Group. “Higher demand will contribute to increasing gas prices in the coming weeks, but they aren’t going to spike to typical summer prices. That’s because demand won’t be sufficient enough to drive down stocks levels. Gasoline stocks sit at a significant surplus of nearly 24 million bbl year-over-year.”
Tampa, FL – Americans are filling up at the pump more and more. Since mid-May, gasoline demand has increased 18% to 7.9 million b/d, according to the latest Energy Information Administration (EIA) report.
The slow, but steady rise in demand has pushed the national pump price more expensive by 13% in the same time frame. Today’s national average is $2.10. That is seven cents more on the week, 24 cents more on the month, but 59 cents cheaper on the year.
Tampa, FL – For 66 days, the national gas price average held below the $2.00/gallon mark, pushing as cheap as $1.76. In the past week, the average has inched up to $2.03. Despite the consistent increases at the pump, prices are still significantly cheaper year-over-year.
In fact, during the first week of June the past five years, gas prices have typically averaged $2.81.
Clarksville-Montgomery County has the Second Lowest Gas Prices in Tennessee
Nashville, TN – The Tennessee gas price average jumped eight cents this week – the largest weekly increase the state has seen so far in 2020.
The Tennessee Gas Price average is now $1.79 which is nearly 23 cents more than one month ago and nearly 64 cents less than one year ago.
Tampa, FL – The national gas price average is $1.97, just one penny more expensive than last week. Part of the incremental jump can be attributed to increases in gasoline demand, which saw a 7% week-over-week increase.
However, demand is still down nearly 25% compared to last year, according to the Energy Information Administration’s (EIA) latest reports.
Nashville, 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.”
Tampa, FL – As gas prices continue to push cheaper across the country, only one dozen states carry an average of $2.00/gallon or more. The national average is $1.77, which is four cents less than last week, 28 cents cheaper than last month and $1.11 less than a year ago.
Crude oil prices were extremely volatile last week, pushing negative for the first time ever, but they did make significant gains to end the week in the positive.
Nashville, TN – AAA reports that the Tennessee gas price average continues to decline and has dropped nearly 4 cents since this time last week. The Tennessee Gas Price average is now $1.56 which is 25 cents less than one month ago and nearly $1.07 less than one year ago.
“Tennessee motorists continue to see steady declines at the pump,” said Megan Cooper, spokesperson, AAA – The Auto Club Group. “If the state average drops below $1.50 motorists will be seeing the cheapest prices in twelve years.”
Tampa, FL – AAA says that the national gas price average has steadily declined for seven weeks, pushing the average cheaper by 61-cents to $1.86 today. During this time frame (since late February), United States demand for gasoline has decreased 44% to 5 million b/d as gasoline inventories build across the country.
“We are seeing fast and furious gasoline demand destruction. The latest data reveals demand levels not seen since spring of 1968,” said Jeanette Casselano, AAA spokesperson. “Every U.S. region is seeing builds in gasoline inventories and crude storage, which is just driving pump prices even cheaper.”
Tampa, FL – Today’s national gas price average is $1.92. That is nine cents cheaper than last Monday, 48 cents less than a month ago and 81 cents less expensive than a year ago.
On the week, pump prices continued to push less expensive with gasoline demand registering at its lowest point since 1993.
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