Gas Prices Inching Lower Again
Monday, February 11, 2019 7:41 am
(MURFREESBORO) Gas prices in Tennessee are inching lower again, after rising 2 cents last week. Drivers are currently paying an average price of $2.04 per gallon at the pump. Some Murfreesboro discounters started the week (2/11/2019) with regular gas at $1.91 per gallon, and that gives us in the "lowest priced gas in the Volunteer State". .
Tennessee ranks 11th for lowest gas prices among all 50 states and the District of Columbia. Gas prices are currently 7 cents higher than the lowest price so far this year. However, drivers in Tennessee are paying 36 cents per gallon less than this time last year.
Click here to view AAA's state and metro gas price averages
Gas prices around the United States rose an average of 2 cents, during the past week. The national average price for regular unleaded is $2.28 per gallon.
"Drivers continue to find gas prices that are well below what they paid this time last year," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "Low oil prices have helped keep gas prices relatively low, so far this year. However, prices should bounce higher this spring, as demand climbs and refineries switch to a more expensive-to-produce summer-blend gasoline. AAA forecasts the national average to peak around $2.75 per gallon by Memorial Day weekend."
Crude oil prices trended lower last week. The US benchmark WTI settled at $52.64 per barrel on Friday - $2.62 per barrel less than the week before. This was the first weekly decline in crude oil prices in five weeks. Concerns reemerged late last week, that the ongoing US-China trade war could slow global demand. This overshadowed optimism in the market that OPEC cuts and sanctions against Venezuela exports are helping to balance global supplies. So far this year, the highest daily settlement of WTI was $55.26 per barrel on February 1.
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