The Tennessee Gas Price average is $2.32, which is the same as yesterday, one cent more expensive compared to last week and last month, and 31 cents more expensive than last year.
The National Gas Price Average is $2.58, up four cents from last week. Compared to last month, the national average is the same price, but 31 cents more expensive than the end of 2018.
A year-end spike in road trip travel due to the holidays helped to push the national average more expensive on the week.However, in 2019, the national gas price average was $2.61, which is ten cents cheaper than the 2018 average of $2.71.
"The majority of states saw gas prices increase in the last week - some by as much as a nickel to a dime, but any spikes in gas prices that motorists are seeing will be short-lived," said Jeanette Casselano, AAA spokesperson. "AAA expects gas prices to decrease following the holidays."
At the close of Friday's formal trading session on the NYMEX, WTI decreased by four cents to settle at $61.72. Crude prices rose last week after EIA's petroleum status report revealed that total domestic crude stocks decreased by 5.5 million bbl to 441.4 million bbl last week. Total domestic stocks are now at the level they held last year at this time. If EIA's report this week shows another reduction, crude prices could increase again. Higher crude prices will likely help to push pump prices higher moving into next year.
