Gas Prices Up 13-Cents In 'Boro

Gas prices are on the rise once again, after declining for nearly two weeks. Tennessee gas prices declined early last week, then rose a total of 4 cents.

Here in Murfreesboro, we saw a 13-cent increase in price. The lower priced discounters started the week (3/19/2018) with regular gas at $2.25 per gallon. Since the increase was felt across the Volunteer State, Murfreesboro still maintained lowest gas price in Tennessee. Sunday's state average of $2.34 is the same as a month ago, yet remains 30 cents more than this time last year.

The most expensive gas price averages in Tennessee are in Nashville ($2.39), Jackson ($2.37), and Knoxville ($2.34)
The least expensive gas price averages in Tennessee are in Murfreesboro ($2.25), Chattanooga ($2.26), Cleveland ($2.30), and Clarksville-Hopkinsville ($2.30)

"There are a few of factors that gave gas prices a boost, but this time it wasn't crude oil," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "Gasoline supplies took a sharp dip last week, as exports rose and refineries began to switch from summer to winter blend gasoline. In addition, demand in the southeast - especially in Florida - is strong, as Americans hit the road for spring break.

"We also noticed strong gains in wholesale gasoline prices last week, which should signal additional increases at the pump this week," Jenkins continued.

Wholesale Gasoline Rises While Oil Holds Relatively Steady

Wholesale gasoline prices climbed 10-15 cents Wednesday-Friday. Based on current wholesale levels, prices at the pump could climb another nickel.

Meanwhile, crude oil prices hovered around the $60-$62 per barrel range, where they have remained for the past two weeks. Gasoline futures rose 5 cents last week.

Average Gas Prices in March
	2014	2015	2016	2017	2018
National	$3.51	$2.43	$1.93	$2.30	$2.53
Florida	$3.53	$2.46	$1.96	$2.29	$2.52
Georgia	$3.35	$2.26	$1.87	$2.18	$2.41
Tennessee	$3.26	$2.18	$1.75	$2.05	$2.32

Crude oil inventories strengthened by 1.2 percent, yet remains 18 percent below year-ago levels
Oil production held relatively steady at nearly 10.4 million barrels per day, yet remains 12.4 percent above year-ago levels
Gasoline demand, as measured by the EIA, climbed by 4 percent week-over-week, and is 4 percent higher than this time last year.
Gasoline production rose by nearly 4 percent week-over-week, and is 8 percent higher than this time last year.
Gasoline inventories (supplies) dipped by nearly 3 percent compared to the week before, and about even with this time last year.

Gas Price Tools for Reporters/Consumers

GasPrices.AAA.com - Daily national, state, and metro gas price averages.
AAA Mobile app - Free app that shows current prices at a gas station near you.

Highs and Lows of 2018

National: the highest average price for gasoline was $2.67 on February 6; the lowest was $2.49 on January 3.
Florida: the highest average price in was $2.68 on February 8; the lowest was $2.44 on January 2.
Georgia: the highest average price was $2.49 on January 31; the lowest was $2.35 on January 2.
Tennessee: the highest average price was $2.41 on February 7; the lowest was $2.26 on January 1.

CURRENT AND PAST PRICE AVERAGES

Regular Unleaded Gasoline

	Sunday	Saturday	Week Ago	Month Ago	One Year Ago	Highest Price on Record
National	$2.542	$2.536	$2.527	$2.533	$2.293	$4.114 (7/17/2008)
Florida	$2.531	$2.532	$2.499	$2.571	$2.265	$4.079 (7/17/2008)
Georgia	$2.444	$2.435	$2.398	$2.407	$2.170	$4.164 (9/15/2008)
Tennessee	$2.342	$2.339	$2.305	$2.342	$2.042	$4.118 (9/15/2008)