Tennessee gas prices remain steady for second straight week | Tennessee – Nashville-Davidson, Tennessee

Nashville-Davidson, Tennessee 2021-07-19 11:30:00 –

Nashville, Tennessee (WSMV)-AAA – Data from The Auto Club Group show that average gasoline prices in Tennessee have been stable for the second straight week.

The average Tennessee gas price remains at $ 2.88, two cents higher than a month ago and 95 cents higher than a year ago.

“Crude oil prices fell last week after recent news from OPEC and its oil-producing allies planned to gradually increase oil production from August,” AAA spokesman Megan Cooper said in a news release. “Original reports have led to lower oil prices, but it’s unclear at this point where the oil market will go. For now, drivers will be able to enjoy a break from rising pump prices. . “

In Tennessee, 92% of Tennessee gas stations cost less than $ 3. A minimum of 10% of the pump price is $ 2.69 for regular unleaded, while a maximum of 10% of the pump price is currently $ 3.14 for regular unleaded. Tennessee currently has the eighth cheapest market in the country.

Since the anniversary weekend, national gasoline prices have risen 13 cents to $ 3.17. That’s 98 cents higher than it was a year ago, but 41 cents cheaper than this time in July 2014, when the national average last exceeded $ 3 per gallon.

High crude oil prices are one of the main reasons for the high gasoline prices this summer. However, crude oil prices fluctuated from a high of $ 75 a barrel to $ 71 a barrel last week. News from OPEC over the weekend that an agreement was reached to increase production in August could give crude oil prices below $ 70 a barrel.

Anyway, AAA expects pump price increases to be the norm throughout the summer.

In Tennessee, the most expensive metro markets are Memphis ($ 2.95), Morristown ($ 2.90) and Johnson City ($ 2.90), and the cheapest markets are Cleveland ($ 2.81), Chattanooga ($ 2.81) and Clarksville. Bill ($ 2.84).

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Tennessee gas prices remain steady for second straight week | Tennessee Source link Tennessee gas prices remain steady for second straight week | Tennessee

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