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NEWS RELEASE CONTACT: Stephanie Milani, Tennessee Public Affairs Director, Megan Osborne, Tennessee Public Affairs Specialist, |
AAA: National Average Nearly 20-Cents Higher than Two Months Ago
Prices rising due to reduced gasoline stock levels and increased demand
NASHVILLE, Tenn. (March 4, 2019) — Tennessee Gas Prices are rising. Tennessee drivers are now paying an average price of $2.22 per gallon for regular unleaded. Monday’s state average is 3 cents more than a week ago, 19 cents more than this time last month, and 10 cents less than this time last year.
The national gas price average has increased nearly 20-cents since the beginning of the year, which is the largest jump during the January-February time frame since 2015. However, today’s average of $2.42, is about 10 cents less than this time last year.
“Pump prices have been pushed higher this week due to reduced gasoline stock levels and increased demand,” said Jeanette Casselano, AAA spokesperson. “Motorists can expect gas prices to continue to increase as refineries gear up for spring gasoline production and maintenance season.”
Moving into this week, crude prices may rise on optimism that the United States and China are closer to a deal that resolves the ongoing trade spat between two of the world’s largest economies. The ongoing tightened oil supply, due largely to OPEC’s 1.2 million b/d production reduction agreement, and decreased crude exports from Venezuela and Iran could also help push prices higher.
CURRENT AND PAST PRICE AVERAGES
Regular Unleaded Gasoline
|
|
Monday |
Sunday |
Week Ago |
Month Ago |
One Year Ago |
2018 High |
Record High |
|
National |
$2.427 |
$2.426 |
$2.395 |
$2.256 |
$2.530 |
$2.97 (5/26/2018) |
$4.11 (7/17/2008) |
|
Tennessee |
$2.221 |
$2.219 |
$2.189 |
$2.025 |
$2.320 |
$2.73 (5/27/2018) |
$4.12 (9/15/2008) |
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Click here to view current gasoline price averages |
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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.
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.