20
October
2019
|
17:00 PM
America/Chicago

AAA: GAS PRICE TRENDS FLUCTUATE ACROSS THE NATION

Refinery maintenance ongoing; price trends vary from state to state

NASHVILLE, Tenn., (Oct 21, 2019) — Tennessee Gas Price average today is $2.33, which is two cents more than last week, seven cents less than one month ago and 32 cents less than this time last year. Today's national average of $2.64 is one penny more than last week, two cents more than last month but 21-cents cheaper than last year.

U.S. refinery utilization dropped to its lowest rate – 83% - since Sept. 2017, tightening gasoline supplies and causing nearly half of all state gas price averages to increase on the week. AAA reports these weekly trends in pump price fluctuation:

  • Nearly half (22) of all states saw gas prices increase with nine state averages jumping a nickel or more
  • 19 states saw gas prices decrease with the majority seeing one to two cent declines
  • 10 state averages held steady

"Peak refinery maintenance season has caused volatility across the country," said Jeanette Casselano, AAA spokesperson. "Motorists can expect fluctuations at the pump likely through the end of the month due to ongoing maintenance and tighter gasoline supply."

Oil Market Dynamics

At the close of Friday's formal trading session on the NYMEX, WTI decreased 15 cents to settle at $53.78. Crude prices mostly fell last week. When compared to last year's rate at this time, crude production is up by 1.7 million b/d this year. Additionally, trade tensions between China and the U.S. continue to worry the market, putting downward pressure on prices. If trade tensions continue, prices could take another step back this week.

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

CURRENT AND PAST PRICE AVERAGES

Regular Unleaded Gasoline

Monday

Sunday

Week Ago

Month Ago

One Year Ago

2018 High

Record High

National

$2.648

$2.649

$2.636

$2.669

$2.852

$2.97 (5/26/2018)

$4.11 (7/17/2008)

Tennessee

$2.331

$2.337

$2.351

$2.400

$2.645

$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.