(Murfreesboro) Gas prices across the nation increased 1.5 cents during the past week. However, in Murfreesboro, it dropped 3-cents at some discounters to $2.46 per gallon.
So far, motorists have found the most expensive summer gas prices in four years. Since June 1, Tennessee gas prices averaged $2.64 per gallon - an increase of nearly 60 cents compared to the average price last summer. However, current pump prices remain 12 cents below this year's high, set during Memorial Day weekend.
|Average Summer Gas Prices|
"Reduced global oil supplies have caused summer travelers to pay a higher price at the pump this year," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "Fortunately, domestic gasoline production remains strong, which should help prevent major swings in summer gas prices. However, pump prices will pop if a major hurricane threatens refineries along the Gulf Coast. Last year, Hurricane Harvey caused a 40 cent spike."
Click here to view AAA's state and metro gas price averages
- The most expensive gas price averages in Tennessee are in Jackson ($2.67), Nashville ($2.65), and Memphis ($2.65)
- The least expensive gas price averages in Tennessee are in Murfreesboro ($2.46), Clarksville-Hopkinsville ($2.55), Knoxville ($2.56), and Johnson City ($2.57)
According to the latest EIA figures, demand is near record-levels, averaging 2 percent higher than last year. Fortunately, U.S. refineries are more than keeping pace. Gasoline production in the Gulf Coast is 12 percent better than this time last year. As a result, gasoline futures prices dropped 7 cents on the stock market last week.Oil prices remain near multi-year highs, yet held relatively steady through last week. The price of crude settled at $73.80 per barrel on Friday - 35 cents less than the week before.
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
CURRENT AND PAST PRICE AVERAGES
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