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
- The most expensive gas price averages in Tennessee are in Jackson ($2.75), Nashville ($2.75), and Memphis ($2.70)
- The least expensive gas price averages in Tennessee are in Murfreesboro ($2.59), Johnson City ($2.63), Chattanooga ($2.64), and Clarksville-Hopkinsville ($2.66)
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|
Gas Price Tools
- GasPrices.AAA.com - Daily national, state, and metro gas price averages
- AAA Mobile app - Free app that compares gas prices near you
- Gas Cost Calculator - Determine how much gasoline will cost on your next road trip
(Source: US Department of Energy)
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 - 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
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|