Gas prices likely to decrease amid healthy gasoline supply
NASHVILLE, Tenn., (Dec. 2, 2019) — Tennessee Gas Prices are holding steady compared to a week ago. The average price for gasoline is the same as last week and last month, but is six cents more than one year ago.
The national gas price average is one penny cheaper than last Monday at $2.58. Today’s average is three cents cheaper than last month, but 12 cents more expensive than last year at this time.
Following a busy holiday long weekend that saw 49 million Americans traveling on roadways, gas prices across the country saw minimal fluctuation, with most states seeing decreases on the week.
“Gasoline stocks have steadily increased the past few weeks as gasoline demand has started to slow,” said Jeanette Casselano, AAA spokesperson. “This trend is creating cheaper gas prices for the majority of motorists.”
At the close of Friday’s formal trading session on the NYMEX, WTI decreased by $2.94 cents to settle at $55.14. Continued market fear that tension between China and the U.S. – the world’s two largest crude consumers – will reduce crude demand moving into next year helped push prices down. Additionally, Energy Information Administration (EIA) data shows a substantial 5.1 million bbl build in gasoline stocks amid flat gasoline demand. Should inventory levels stay high, gas prices are likely to decrease in the coming week.
CURRENT AND PAST PRICE AVERAGES
Regular Unleaded Gasoline
|Monday||Sunday||Week Ago||Month Ago||One Year Ago||2018 High||Record High|
|National||$2.589||$2.591||$2.590||$2.610||$2.467||$2.97 (5/26/2018)||$4.11 (7/17/2008)|
|Tennessee||$2.309||$2.311||$2.306||$2.307||$2.241||$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 9.9 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 60 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.