Nearly 43 million Americans and 863,000 Tennesseans will travel this holiday

20 May 2019

AAA: Gas Prices Decline Ahead of Memorial Day Holiday
 

NEWS RELEASE

CONTACT:

Stephanie Milani, Tennessee Public Affairs Director,
AAA - The Auto Club Group, (865) 862-9252 office, (865) 556-2927 cell,

SMilani@AAASouth.com

AAA: Gas Prices Decline Ahead of Memorial Day

Nearly 43 million Americans and 863,000 Tennesseans will travel this holiday


NASHVILLE, Tenn., (May 20, 2019) — Tennessee’s state average gas price is $2.54 per gallon for regular unleaded making it the sixth lowest state average in the nation. Today’s average is three cents less than the average a week ago and six cents less than one month ago and 13 cents less than one year ago.

The national gas price average today is $2.85, one cents less than last week’s average, one cent less than one month ago and seven cents less than this time last year.

“Gas prices are getting cheaper for the majority of motorists ahead of the busy Memorial Day holiday. In fact, motorists can find gas for $2.75 or less at nearly half of all gas stations in the country” said Stephanie Milani, AAA –The Auto Club Group, Tennessee Public Affairs Director. “Crude oil prices have remained relatively stable the past few months, which is one reason helping gas prices be cheaper than last year at this time.”

Memorial Day Travel Forecast

Nearly 43 million Americans will start their summers on a high note with a Memorial Day weekend getaway. This long holiday weekend, marking the unofficial start of summer vacation season, will see the second-highest travel volume on record since AAA began tracking holiday travel volumes dating back to 2000, trailing only the bar set in 2005. Overall, an additional 1.5 million more people will take to the nation’s roads, rails and runways compared with last year, a 3.6% increase.

“Americans will kick off this summer much like last year— with a summer road trip,” said Stephanie Milani, Tennessee public affairs director, AAA—The Auto Club Group. “Consumer spending remains strong, helped by solid job and income growth. Families continue to prioritize spending their disposable income on travel, and near-record numbers of them are looking forward to doing just that for Memorial Day.”

By the numbers: 2019 Memorial Day holiday travel forecast

  • Total numbers of travelers:
    • National: 43 million travelers
    • Tennessee: 863,565 travelers
  • Automobiles: The vast majority of travelers will hit the road, the most on record for the holiday.
    • National: 37.6 million; 3.5% more than last year.
    • Tennessee: 752,134, 3% increase more than last year.
  • Planes:
    • National: 3.25 million people will take to the skies, 4.8% more than last year, second only to 2005.
    • Tennessee: 80,621 Tennesseans will travel by air, a 7.1% increase over last year.
  • Trains, Buses and Cruise Ships:
    • National: 3.8% increase to 1.9 million passengers
    • Tennessee: 0.5% increase to 30,810 passengers

 Crude Oil

At the close of Friday’s formal trading session on the NYMEX, WTI dropped 11 cents to settle at $62.76. Crude prices increased last week due to rising global tensions and increased supply concerns. Crude prices will likely continue their ascent this week after OPEC and its partners met over the weekend to discuss compliance with the group’s 1.2 million b/d production reduction agreement that has been in place since January 2019. The group will formally decide if it will keep the agreement in place beyond June at next month’s meeting.

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 $2.850 $2.851 $2.862 $2.842 $2.924 $2.97 (5/26/2018) $4.11   (7/17/2008)
Tennessee $2.542 $2.547 $2.571 $2.605 $2.671 $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.