Growing stocks to drive gas prices cheaper through year-end

09 December 2019

NASHVILLE, Tenn.,  (Dec. 9, 2019) — Tennessee Gas Price average is $2.23 which is two cents higher than last week, three cents higher than last month and 15 cents more than last year.  

The national gas price average is $2.57 which is one penny less than last Monday, a nickel less than one month ago, but 15 cents more than this time last year.  The majority of states saw minimal movement at the pump in the last week, several saw decreases of up to four cents while fewer than a dozen states saw gas prices increase.

 

“Since the end of October, gasoline demand has mostly decreased as gasoline stocks have mostly increased, paving the way for cheaper gas prices,” said Jeanette Casselano, AAA spokesperson. “AAA expects stocks to continue to grow and drive gas prices even cheaper through year-end.”

 

 

Crude oil

At the close of Friday’s formal trading session on the NYMEX, WTI increased by 77 cents to settle at $59.20. Crude prices rose after reports emerged that OPEC and its partners announced an agreement to cut crude production by an additional 500,000 b/d to help maintain prices amid market fears of slowing global demand.

 

                                                           
                                                           
CURRENT AND PAST PRICE AVERAGES

                                                                                     Regular Unleaded Gasoline

Monday Sunday Week Ago Month Ago One Year Ago 2018 High Record High
National $2.573 $2.577 $2.589 $2.624 $2.423 $2.97 (5/26/2018) $4.11   (7/17/2008)
Tennessee $2.324 $2.327 $2.309 $2.359 $2.169 $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.