'Boro Has Lowest Gas Price in State

Jun 04, 2018 at 07:31 am by bryan


The summer driving season is in full swing, and it opened with the most expensive gas prices in four years. Fortunately, those prices at the pump are beginning to trickle lower. Some local discounters in Murfreesboro opened the week with regular gas at $2.59 per gallon.

The national average price of $2.95 per gallon is 2 cents less than last week. The discount at the pump is begin driven by strong declines in the price of oil - which influences about half the price of gasoline.

Gas prices in Tennessee declined nearly 3 cents last week. The state average of $2.70 is 10 cents more than a month ago and 60 cents more than this time last year.

Click here to view today's AAA's state and metro gas price averages

Crude oil prices hit 7-week lows last week as the dollar gained strength and U.S. oil rig count reached the highest level since March 2015. These factors compounded the downward pressure on crude - initiated when Russia and Saudi Arabia revealed interest in raising crude output. The price of oil sank to $65.81 on Friday, after reaching a 4-year high of $72.24 per barrel just two weeks ago.

"Gas prices could drop 10-15 cents, based on recent oil price declines," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "The discount will not happen overnight, because it usually takes a couple weeks for shifts like this to play out at the pump. However, any downward potential would be wiped out if futures prices suddenly bounce higher."

Average Summer Gas Prices
2014 2015 2016 2017 Today
National $3.57 $2.71 $2.23 $2.31 $2.95
Florida $3.50 $2.58 $2.19 $2.25 $2.87
Georgia $3.48 $2.57 $2.11 $2.18 $2.82
Tennessee $3.35 $2.45 $2.03 $2.08 $2.70

Gas Price Tools

Fuel-Saving Tips
(Source: US Department of Energy)

Drive Sensibly - Aggressive driving (speeding, rapid acceleration and braking) wastes gas.

Observe the speed limit

Lose the weight

Use cruise control

Avoid excess idling

Combine trips

Inflate tires

CURRENT AND PAST PRICE AVERAGES

Regular Unleaded Gasoline

Sunday Saturday Week Ago Month Ago One Year Ago Highest Price on Record
National $2.950 $2.953 $2.970 $2.817 $2.378 $4.114 (7/17/2008)
Florida $2.866 $2.874 $2.913 $2.734 $2.375 $4.079 (7/17/2008)
Georgia $2.820 $2.822 $2.843 $2.729 $2.221 $4.164 (9/15/2008)
Tennessee $2.704 $2.708 $2.728 $2.595 $2.108 $4.118 (9/15/2008)

Sections: News