Tennessee average falls three cents in one week
NASHVILLE, Tenn., (Jan. 13, 2020) — The Tennessee Gas Price average is$2.36 which is three cents less than last week, but six cents higher than one month ago and 37 cents higher than one year ago.
Despite crude oil price fluctuation and growing geopolitical concerns with Iran in the last week, the National Gas Price Average average has held steady at $2.58 since the beginning of the year. Today’s national average is two cents more than last month and 34-cents more expensive than the beginning of 2019.
“A healthy and growing level of domestic gasoline stocks alongside decreasing demand are two factors helping to minimize gas price fluctuations,” said Jeanette Casselano, AAA spokesperson. “In the last week, about 32 states saw pump prices push less expensive by just a penny or two or saw no change at all.”
Oil Price Impact
At the close of Friday’s formal trading session on the NYMEX, WTI dropped by 52 cents to settle at $59.04. Crude prices decreased last week after rising sharply following increased tension between the U.S. and Iran. With the U.S. announcing economic sanctions instead of additional military strikes against Iran, prices fell as tension began to ease. If tension continues to cool in the region this week, crude prices could decrease further.
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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.
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The Auto Club Group (ACG) is the second largest AAA club in North America. ACG and its affiliates provide membership, insurance, banking, financial services, and travel offerings to over 13.5 million members across 13 U.S. states, the province of Quebec and two U.S. territories including Florida, Georgia, Iowa, Michigan, Nebraska, North Carolina, North Dakota, Tennessee, Wisconsin, Puerto Rico, South Carolina 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 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.