The Tennessee Gas Price average is $2.32 which is three cents less than last week, a penny higher than one month ago, and 32 cents higher than one year ago.
The National Gas Price Average is $2.54, which is three cents cheaper than last week, a penny less than last month, yet 30-cents more than a year ago. Gas prices edged cheaper in the last week as gasoline stocks grew, measuring at 258 million bbl – a stock level not recorded by the Energy Information Administration (EIA) in nearly a year.
“Motorists across the country are paying less to fill-up as U.S. gasoline supply outpaces demand this winter,” said Jeanette Casselano, AAA spokesperson. “Typically, we see cheaper gas prices this time of year as motorists generally drive less.”
Oil Price Impact
At the close of Friday’s formal trading session on the NYMEX, WTI increased by two cents to settle at $58.54. Crude prices fell last week after new data showed that China’s economy, the world’s second-largest, grew by 6.1% in 2019. It is the country’s slowest expansion in 29 years. The slower-than-expected growth rate has increased market concerns that global crude demand may decline this year. If those concerns continue into this week, crude prices could decrease again.
Motorists can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.
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 AAA – 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, 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.