21 December 2018

--GAS PRICE UPDATE--

 

AAA WILL NOT SEND A GAS PRICE BRIEF ON MONDAY MORNING, DECEMBER 24 (our Public Affairs office will be closed for the holiday). 

 

Instead, below is an updated Gas Price Brief for Friday, December 21

Reporters are encouraged to visit GasPrices.AAA.com to check updated gas price averages


-- The next AAA Gas Price Brief will be distributed on Friday, December 28th --

 

NEWS RELEASE

     


MEDIA CONTACTS:

Florida
Mark Jenkins, spokesman, AAA - The Auto Club Group,
office: (813) 288-7906, cell: (850) 532-0730, MAJenkins@AAASouth.com

Georgia
Garrett Townsend, GA Public Affairs Director, AAA - The Auto Club Group,
cell: (404) 932-1965, GTownsend@AutoClubGroup.AAA.com

Michigan
Nancy Cain, spokesperson, AAA - The Auto Club Group
office: (313) 336-1514, cell: (313) 268-4038, NCain@AAAMichigan.com

Tennessee
Stephanie Milani, TN Public Affairs Director, AAA - The Auto Club Group,
office: (865) 862-9252, cell: (865) 556-2927, SMilani@AAASouth.com

U.S. AVERAGE PRICE

(Per Gallon)
$2.36 (-4¢) 

GAS PRICES COULD DROP ANOTHER 5-15 CENTS FOR THE HOLIDAYS

The Average Driver Saves $10 on a Full Tank of Gas, Compared to Summer

 

TAMPA, Fla. (December 21, 2018) — Christmas came early for millions of Americans hitting the road for the holidays. Gas prices, which are already at 2-year lows for this time of year, should drop even lower in the coming days; after the price of oil and wholesale gasoline tumbled on Thursday.

An estimated 102.1 million Americans are forecast to travel via automobile between now and New Year’s Day. Nationwide, the average price for gasoline is $2.35 per gallon and falling (check today’s price). Americans are paying $9 less for a full tank of gas, than they did when prices peaked in the summer. The national average has declined 13 cents this month, and a total of 55 cents since mid-October.

"A holiday road trip will become even more affordable, as AAA forecasts another round of falling gas prices," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "Wholesale gasoline plummeted on Thursday, which will reduce the cost for retailers to buy and sell gasoline. Unless the market turns around, drivers should see gas prices fall another 5-15 cents, during their holiday road trips."

What’s Driving the Price Drop?

  • The global oil market is considered oversaturated, as crude production from the U.S. and many other countries have hovered near record-highs, outpacing demand
  • There is uncertainty in the market about global economic growth, creating a bearish sentiment on fuel demand
  • Futures prices were dragged lower by virtue of weakness in equity markets, after the Federal Reserve added a quarter point to the benchmark interest rate on Wednesday, and concerns of a government shutdown were renewed on Thursday
  • Oil prices are the lowest since July 2017. The price for a barrel of WTI crude settled at $45.88 Thursday on the NYMEX
  • Gasoline futures are at 2-year lows (September 2016). RBOB dropped 6 cents on Thursday, and is down 11 cents on the week.
  • Wholesale gasoline prices dropped nearly 10 cents on Thursday

FLORIDA DRIVERS FIND LOWEST HOLIDAY GAS PRICES IN 2 YEARS

Gas prices in Florida are 10 cents less than the average price on Christmas Day 2017. The state average is $2.26 per gallon, yet Florida motorists are beginning to find pump prices below $2 a gallon at various filling stations in Jacksonville, Orlando, and Tampa Bay. 

On average, Florida drivers are paying nearly $10 less for a full tank of gas, compared to when prices peaked last summer. During the past 10 weeks, pump prices plunged an average total of 56 cents.

AAA forecasts more than 5.3 million Floridians will take a road trip between now and New Year’s Day. There will be nearly 242,000 additional Florida drivers on the roads, compared to last year’s holiday season. That does not include travelers from out-of-state.

SUMMARY

  • Florida’s daily average price is the lowest since August 2017
  • Travelers will find the lowest holiday gas prices in two years
  • 5.3 million Floridians will travel by automobile during the year-end holidays
  • The average cost for a full tank of gas is $10 less than what motorists paid in the summer
  • Today’s most expensive gas price averages: Panama City ($2.60), Miami ($2.44), and West Palm Beach-Boca Raton ($2.42)
  • Today’s least expensive gas price averages: The Villages ($2.14), Orlando ($2.15), Jacksonville ($2.16)
  • Click here to view AAA’s state and metro gas price averages

GEORGIA DRIVERS FIND LOWEST HOLIDAY GAS PRICES IN 2 YEARS

Gas prices in Georgia are 11 cents less than the average price on Christmas Day 2017. Although the state average is $2.16 per gallon, Georgia motorists are finding pump prices well below $2 a gallon at various filling stations throughout the state. 

On average, Georgia drivers are paying $10 less for a full tank of gasoline, compared to when prices peaked last summer. During the past 10 weeks, pump prices plunged an average total of 64 cents. The state average could shed another 10 cents, before fully adjusting to recent crude price drops.

AAA forecasts nearly 3 million Georgians will take a road trip between now and New Year’s Day. An additional 120,000 drivers are expected on the road, compared to last year’s holiday season. That does not include travelers from out-of-state.

SUMMARY

Click here to view AAA’s state and metro gas price averages
  • Georgia’s daily average price is the lowest since July 2017
  • Travelers will find the lowest holiday gas prices in two years
  • 3 million Georgians will travel by automobile during the year-end holidays
  • The average cost for a full tank of gas is $10 less than what motorists paid in the summer
  • Today’s most expensive metro markets: Hinesville-Fort Stewart ($2.33), Savannah ($2.25), Brunswick ($2.22)
  • Today’s least expensive metro markets: Catoosa-Dade-Walker ($1.99), Dalton ($2.04), Warner Robins ($2.05)
  • Click here to view AAA’s state and metro gas price averages
 

 

MICHIGAN DRIVERS FIND LOWEST HOLIDAY GAS PRICES IN 2 YEARS

Gas prices in Michigan are 41 cents less than the average price on Christmas Day 2017. Although the state average is $2.20 per gallon, Michigan motorists are finding pump prices well below $2 a gallon at various filling stations throughout the state. 

On average, Michigan drivers are paying $14 less for a full tank of gasoline, compared to when prices peaked last summer. During the past 12 weeks, pump prices plunged an average total of 82 cents. 

AAA forecasts nearly 3.3 million Michiganders will take a road trip between now and New Year’s Day. An additional 140,000 drivers are expected on the road, compared to last year’s holiday season. That does not include travelers from out-of-state.

SUMMARY

  • Michigan’s daily average price is the lowest since February 2017
  • Travelers will find the lowest holiday gas prices in two years
  • 3.3 million Michiganders will travel by automobile during the year-end holidays
  • The average cost for a full tank of gas is $14 less than what motorists paid in the summer
  • Today’s most expensive metro markets: Marquette ($2.35), Ann Arbor ($2.27), and Metro Detroit ($2.22)
  • Today’s least expensive metro markets: Flint ($2.09), Saginaw-Bay City-Midland ($2.10), and Jackson ($2.11)
  • Click here to view AAA’s state and metro gas price averages

TENNESSEE DRIVERS FIND LOWEST HOLIDAY GAS PRICES IN 2 YEARS

Gas prices in Tennessee are 14 cents less than the average price on Christmas Day 2017. Although the state average is $2.09 per gallon, Tennessee motorists are finding pump prices well below $2 a gallon at various filling stations throughout the state, including Memphis, Knoxville, and Chattanooga. 

On average, Tennessee drivers are paying $10 less for a full tank of gasoline, compared to when prices peaked last summer. During the past 10 weeks, pump prices plunged an average total of 60 cents. The state average could shed another 10-15 cents, before fully adjusting to recent crude price drops.

AAA forecasts 2.5 million Tennesseans will take a road trip between now and New Year’s Day. An additional 123,000 drivers are expected on the road, compared to last year’s holiday season. That does not include travelers from out-of-state.

 

SUMMARY

  • Tennessee’s daily average price is the lowest since July 2017
  • Travelers will find the lowest holiday gas prices in two years
  • 2.5 million Tennesseans will travel by automobile during the year-end holidays
  • The average cost for a full tank of gas is $10 less than what motorists paid in the summer
  • Today’s most expensive metro markets: Nashville ($2.19), Johnson City ($2.17), Jackson ($2.13)
  • Today’s least expensive metro markets: Chattanooga ($1.94), Cleveland ($1.98), Knoxville ($2.01)
  • Click here to view AAA’s state and metro gas price averages

 

Gas Price Tools

                                                                   CURRENT AND PAST PRICE AVERAGES

                                                                                     Regular Unleaded Gasoline

Sunday Saturday Week Ago Month Ago One Year Ago 2018 High Record High
National $2.360 $2.369 $2.399 $2.612 $2.429 $2.97 (5/26/2018) $4.11   (7/17/2008)
Florida $2.258 $2.269 $2.311 $2.480 $2.359 $2.92 (5/25/2018) $4.08   (7/17/2008)
Georgia $2.163 $2.171 $2.198 $2.462 $2.273 $2.84 (5/27/2018) $4.16   (9/15/2008)
Michigan $2.198 $2.218 $2.300 $2.467 $2.593 $3.13 (5/25/2018) $4.26    (5/4/2011)
Detroit $2.223 $2.242 $2.308 $2.530 $2.569 $3.11 (5/25/2018) $4.24    (5/4/2011)
Tennessee $2.090 $2.100 $2.147 $2.400 $2.219 $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.