(MURFREESBORO) Prices at the pump exploded up 20-center in Murfreesboro, yet are pointing lower again as we move into a new week. As of Monday (8/6/2018), our city been bumped out of the "lowest gas prices" in Tennessee section. Most discounters are offering regular gas at $2.65 per gallon in the 'Boro, but a couple started the week at $2.64.
|Average Summer Gas Prices|
Gas prices in Tennessee increased 4 cents during the past week. Sunday's state average of $2.65 is 4 cents more than a month ago and 51 cents more than last year.
Gas prices in July averaged $2.61 per gallon. That was the highest monthly average for July since 2014. Summer gas prices are poised to be the most expensive in four years. Since June 1, Tennessee gas prices averaged $2.63 per gallon - 55 cents more than the average price last summer.
AAA's state and metro gas price averages
- The most expensive gas price averages in Tennessee are in Jackson ($2.69), Nashville ($2.69), and Memphis ($2.66)
- The least expensive gas price averages in Tennessee are in Chattanooga ($2.58), Johnson City ($2.58), Kingsport-Bristol ($2.58)
"Prices at the pump have pinballed around this summer, but fortunately have remained within a 20 cent range," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "The limited swings in pump prices and a strong economy has led to one of the biggest driving summers in history. Prices should slip lower this week, due to falling futures prices on the stock market. However, demand historically remains strong through August, which should prevent prices from slipping anywhere near the lows we saw last year."
EIA data released on Wednesday showed signs that the summer driving season remains in full throttle. Weekly gasoline demand numbers reached near record highs. That strong demand has cut deeply into supply levels - which declined five consecutive weeks, for a total decline of nearly five percent. As demand surges, refineries are working hard. Gasoline production for the week ending July 27th, was 2 percent stronger than a year ago, and the fifth-highest weekly rate in history - the highest was the week of Independence Day 2018.
Crude production remains about 16.3 percent stronger than last year. Although oil inventories increased nearly 1-percent, supplies remain 15 percent below last year.
Fuel Savings Tips
Drive Sensibly - Aggressive driving (speeding, rapid acceleration and braking) wastes gas.
- Gas mileage can be reduced 15-30% at highway speeds / 10-40% in stop-and-go traffic
- The equivalent of 27¢ - $1.08 per gallon
Observe the speed limit
- Not only is it safer - but it can help you save money
- Gas mileage rapidly declines at speeds above 50 mph
- Every 5 mph you drive over 50 mph is like paying an additional 19 cents per gallon for gasoline
Lose the weight
- Using your trunk for storage can cost you by way of lower fuel economy
- Remove unnecessary items from your vehicle.
- An extra 100 pounds in your vehicle reduces your miles per gallon by about 1%
- Like paying an additional 3 cents per gallon for every 100 pounds
Use cruise control
- Cruise control on the highway helps you maintain a constant speed
- Conversely, constant throttling at high speeds consumes gasoline much faster
Avoid excess idling
- Idling uses a quarter to a half gallon of fuel per hour
- Turn off your engine when your vehicle is parked
- It only takes 10 seconds worth of fuel to restart your vehicle
- Saves time and money
- Fuel economy is better when your engine is warmed up and you make multiple stops
- Keeping your tires inflated to the proper pressure can improve your gas mileage up to 3%
- It can mean the difference of a couple cents per gallon
- Find the recommended tire pressure on a sticker located on the driver's side door jamb
CURRENT AND PAST PRICE AVERAGES
|Sunday||Saturday||Week Ago||Month Ago||One Year Ago||Highest Price on Record|