|
NEWS RELEASE |
Florida Georgia Michigan Tennessee |
U.S. AVERAGE PRICE (Per Gallon) |
AAA: PUMP PRICES SLIP AS GASOLINE GLUT GROWS
TAMPA, Fla. (January 28, 2019) — The national average price for gasoline rose 3 cents last week, but prices are now moving lower. Sunday’s average price of $2.26 per gallon is 1-cent less than Friday, 2 cents less than this time last week, and 32 cents less than this time last year.
"Gas prices are slipping lower, due to an oversupply of gasoline," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "Gasoline supplies are at record highs, according to the latest report from the EIA. That’s because refineries had been running hard to meet seasonal demand for both heating oil and exports. In doing so, they were left with more gasoline than there was demand for. State averages could drop another 3-5 cents in the next 7-10 days as a result."
Americans are saving nearly $5 when filling a 15-gallon tank of gas, compared to what they paid a year ago. The national average is 71 cents less than last year’s high, and only fractions of a penny more than what drivers paid on January 1.
Oil prices held relatively steady last week. Friday’s settlement of $53.69/b for WTI was 11 cents less than the week before. Meanwhile, gasoline futures dropped 6 cents on the NYMEX and wholesale prices followed suit.
Crude prices could face upward pressure this week, as a result of political turmoil in Venezuela. The once oil-rich nation sits on the largest oil reserves in the world, but production has declined during its prolonged economic struggles. Venezuela now faces potential sanctions from the United States on crude exports. Sanctions are being considered as a method to remove Venezuela’s President Nicolas Maduro from power. This could also result in tightening global crude supplies and higher prices.
Regional Gas Prices
Gas prices in Florida rose an average of one cent last week, but is now slipping lower. Sunday’s state average of $2.23 per gallon is a penny less than Thursday. Drivers are now paying 3 cents more than a month ago, but 33 cents less than this time last year.
Click here to view AAA’s state and metro gas price averages
- Most expensive gas price averages: West Palm Beach-Boca Raton ($2.40), Panama City ($2.39), Miami ($2.33)
- Least expensive gas price averages: Pensacola ($2.16), Melbourne-Titusville ($2.16), and Punta Gorda ($2.16)
Gas prices in Georgia have leveled-off after rising 7 cents last week. Drivers are now paying an average price of $2.17 per gallon. Sunday’s state average is 6 cents more than a month ago, yet 31 cents less than this time last year.
Click here to view AAA’s state and metro gas price averages
- Most expensive gas price averages: Atlanta ($2.21), Hinesville-Fort Stewart ($2.19), and Brunswick ($2.18)
- Least expensive gas price averages: Warner Robins ($2.06), Catoosa-Dade-Walker ($2.08), Columbus ($2.09)
Gas prices in Michigan are slipping lower again, after rising an average of 15 cents last week. Sunday’s state average of $2.17/g is now nearly 10 cents more than a week ago, after declining a total of 5 cents since Thursday. Although the average Michigan driver is still paying 8 cents more than a month ago, the state average remains 47 cents less than this time last year.
Some of the state’s lowest gas prices are in Metro Detroit. Sunday’s average of $2.12 per gallon is 6 cents more than a week ago, and 1-cent more than last month, but drivers are paying nearly 47 cents per gallon compared to this time last year.
Click here to view AAA’s state and metro gas price averages
- Most expensive gas price averages: Grand Rapids-Muskegon-Holland ($2.21), Benton Harbor ($2.21), and Jackson ($2.19)
- Least expensive gas price averages: Traverse City ($2.09), Metro Detroit ($2.12), Ann Arbor ($2.14)
Gas prices in Tennessee are drifting lower again, after rising 6 cents last week. Sunday’s state average of $2.06/g is down 1-cent from Friday, but remains 5 cents more than this time last week, and 2 cents more than a month ago.
The average driver in Tennessee is still paying about 34 cents per gallon less than they did this time last year, and about 67 cents per gallon less than last year’s peak price.
Click here to view AAA’s state and metro gas price averages
- Most expensive gas price averages: Nashville ($2.13), Cleveland ($2.07), Jackson ($2.05)
- Least expensive gas price averages: Chattanooga ($1.99), Kingsport-Bristol ($2.01), Knoxville ($2.02)
Gas Price Tools
- GasPrices.AAA.com - Daily national, state, and metro gas price averages
- AAA Mobile app - Free app that compares gas prices near you
- Gas Cost Calculator - Determine how much gasoline will cost on your next road trip
CURRENT AND PAST PRICE AVERAGES
Regular Unleaded Gasoline
 |
Sunday | Saturday | Week Ago | Month Ago | One Year Ago | 2018 High | Record High |
| National | $2.264 | $2.268 | $2.244 | $2.297 | $2.576 | $2.97 (5/26/2018) | $4.11 (7/17/2008) |
| Florida | $2.226 | $2.231 | $2.227 | $2.195 | $2.553 | $2.92 (5/25/2018) | $4.08 (7/17/2008) |
| Georgia | $2.168 | $2.168 | $2.104 | $2.114 | $2.482 | $2.84 (5/27/2018) | $4.16 (9/15/2008) |
| Michigan | $2.159 | $2.171 | $2.066 | $2.083 | $2.631 | $3.13 (5/25/2018) | $4.26 (5/4/2011) |
| Detroit | $2.120 | $2.125 | $2.057 | $2.110 | $2.587 | $3.11 (5/25/2018) | $4.24 (5/4/2011) |
| Tennessee | $2.055 | $2.059 | $2.007 | $2.034 | $2.401 | $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.