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Topic: Oil Prices
AAA says National Gas Price Average to climb this week due to Colonial Pipeline shutdown
May 12, 2021 | 
Washington, D.C. – On the week, the national gas price average jumped six cents to $2.96. If the trend continues, an increase of three more cents would make the national average the most expensive since November 2014 –the last time we saw average prices at $2.99 and higher.
AAA forecasts gas prices to climb this week in reaction to the shutdown of the Colonial Pipeline, which delivers approximately 45% of all fuel to the East Coast.
Gas Prices Jump Six Cents on Week, Likely to Climb Higher with Major Pipeline Shutdown. (AAA)
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AAA reports Colonial Pipeline outage could have implications on Tennessee Gasoline Supply, Prices
Tennessee Gas Prices Rise Three Cents
Nashville, TN – After holding steady last week, gas prices in Tennessee rose three cents, on average, over the last week. The Tennessee Gas Price average is now $2.72 which is 3 cents more than one month ago and $1.12 more than one year ago.
“The shutdown of the Colonial Pipeline late last week will likely have implications on both gasoline supply and prices in Tennessee, and those could happen as early as this week,” said Megan Cooper, spokesperson, AAA – The Auto Club Group. “The longer the pipeline is down, the greater the threat of rising gas prices. Tennesseans may see prices increase three to seven cents this week.”
69% of Tennessee gas stations have prices below $2.75. (AAA)
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AAA reports April Saw Small Pump Price Changes, Larger Increases Likely in May
Washington, D.C. – At the start of May, the national gas price average is $2.90, which is three cents more than a month ago.
Pump prices in April saw minimal variability compared to March, which increased 15 cents from start to finish. Stable crude oil prices amid fluctuating demand helped keep the national average price jumps nominal last month.
Gas Prices expected to continue to rise in May. (AAA)
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AAA reports Tennessee Gas Prices remain Steady
Nashville, TN – The Tennessee gas price average held steady over the last week with the state average remaining unchanged from the previous week. The Tennessee Gas Price average is now $2.69 which is the same as one month ago and $1.15 more than one year ago.
“While April saw minimal fluctuation, May is likely to see much larger increases alongside demand spikes, especially closer to Memorial Day weekend,” said Megan Cooper, spokeswoman, AAA – The Auto Club Group. “Compared to May 2019, U.S. gasoline demand is down only 4% and gas prices are, on average, just two cents more.”
Tennessee remains the 10th least expensive market in nation. (AAA)
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National Gas Price Average rises Two Cents
Tennessee has some of the Cheapest Gas Prices in the Country
Washington, D.C. – At 9.1 million b/d, United States gasoline demand recorded its second-highest measurement since mid-March 2020, indicating that motorists are filling up more often.
This latest demand reading is the highest spring number released by the Energy Information Administration (EIA) in two years. In fact, it is only about 3% below the same week in 2019.
U.S. Demand Readings Looking More Like Spring. (AAA)
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AAA reports Gas Prices fall one cent in Tennessee
Nashville, TN – Tennessee gas prices shifted slightly lower, on average, over last week. The Tennessee Gas Price average is now $2.69 which is only a penny more expensive than one month ago and $1.13 more than one year ago.
“Tennessee gas prices have seen minimal fluctuation over the last almost six weeks, moving only a penny or two in either direction week-to-week,” said Megan Cooper, spokesperson, AAA – The Auto Club Group. “Anticipated strong springtime gasoline demand is likely to help keep a floor on falling gas prices. However, a healthy gasoline supply will likely help to keep pump prices in check, especially if crude oil pricing holds steady.”
Tennessee moved to the 10th least expensive market in the nation this week. (AAA)
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AAA reports National Gas Price Averages at $2.86 since beginning of April
Washington, D.C. – AAA says that despite gasoline demand mostly increasing this month, the national gas price average has seen little movement, fluctuating up or down by only a penny to $2.86 or $2.87.
In fact, 10 of the past 12 days saw a steady hold at $2.86 despite demand reaching its highest measurement—8.9 million b/d for the week ending April 9th—in more than a year.
National Gas Price Average has changed little since April. (AAA)
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AAA reports Tennessee Gas Prices go up Two Cents
Clarksville-Montgomery County has the Third Most Expensive Gas Prices in Tennessee
Nashville, TN – Tennessee gas prices saw upward momentum at the pump over last week, mainly due to rising crude oil prices. On average, pump prices across the state rose by two cents over last week.
The Tennessee Gas Price average is now $2.70 which is the same price as one month ago and $1.10 more than one year ago.
Upward pressure on crude oil prices could mean small increases at the pump. (AAA)
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AAA says Gasoline Supply, Refinery Utilization on the Rise as Crude Oil Prices Decline
Washington, D.C. – AAA reports Refinery utilization is at its highest measurement this year: 84%.
This strong utilization rate, as measured by the Energy Information Administration (EIA), helped contribute to the addition of 4 million bbl of gasoline, pushing overall supply levels to 234.5 million bbl for the week ending April 2nd.
Gas truck
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AAA reports Tennessee Gas Prices fall One Cent on Average
Nashville, TN – For the second time this year, the Tennessee Gas Price average saw a week over week decrease – down a penny compared to last week.
The Tennessee Gas Price average is now $2.68 which is 4 cents more than one month ago and $1.05 more than one year ago.
Cheaper crude oil prices likely to help keep price fluctuation low this week. (AAA)
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