Crude oil prices and pump prices show no signs of slowing down
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NEWS RELEASE CONTACT: Stephanie Milani, Tennessee Public Affairs Director, |
AAA: 2019 GAS PRICES LIKELY TO SURPASS LAST YEAR’S HIGH MARK
Crude oil prices and pump prices show no signs of slowing down
NASHVILLE, Tenn., (April 29, 2019) — Tennessee’s state average gas price is $2.62 per gallon for regular unleaded, which is four cents more than a week ago, 14 cents more than this time last month, and four cents higher than this time last year.
The national gas price average today is $2.88, which is four cents more than last Monday, 19 cents more expensive than last month and eight cents more than a year ago. With a four-cent jump on the week, today’s national gas price average sets a new high for the year at $2.88. This average may only be seven cents more than a year ago, but it is nearly 20 cents more than a month ago and 63-cents more expensive than at the beginning of the year. There are only six states in the nation with averages below $2.60 (Alabama, Mississippi, Louisiana, Arkansas, South Carolina and Missouri).
“Compared to the beginning of this year, motorists have definitely felt an increasing squeeze on their wallets at the pump,” said Jeanette Casselano, AAA spokesperson. “With 17 states within a dime of or already at $3/gal or more, Americans can expect the national average to likely surpass 2018’s high of $2.97 set during Memorial Day weekend.”
Crude Oil
At the close of Friday’s formal trading session on the NYMEX, WTI settled at $63.30. Crude prices increased earlier in the week, and could move higher due to concerns about restricted global supply this week, following the U.S. announcing that it would end the use of waivers for countries to import oil from Iran. Decreases in Iranian oil exports would tighten the supply in the global market, which has already seen decreases as a result of the ongoing U.S. sanctions against Iran and Venezuela, along with OPEC’s agreement with its partners to reduce production through July. However, EIA’s weekly report revealed that total domestic crude inventories increased by 5.4 million bbl to 460.6 million bbl last week.
Find Tennessee Gas Prices:
State and metro averages can be found here
CURRENT AND PAST PRICE AVERAGES
Regular Unleaded Gasoline
|
Monday | Sunday | Week Ago | Month Ago | One Year Ago | 2018 High | Record High |
| National | $2.886 | $2.886 | $2.842 |
$2.691 |
$2.808 | $2.97 (5/26/2018) | $4.11 (7/17/2008) |
| Tennessee | $2.620 | $2.622 | $2.604 | $2.478 | $2.589 | $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 9.6 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. Learn more at AAA.com/mobile. Visit AAA on the Internet at AAA.com.