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AAA: 63 percent of gas stations in Tennessee below $2, three-year low on New Year's Day expected

Brandon Paykamian • Updated Dec 28, 2018 at 5:58 PM

Gas prices are expected to have their lowest start to the New Year since Jan. 1, 2016, according to recent projections by AAA analysts. 

"Falling gas prices continue to be 'the gift that keeps giving' this holiday season," AAA spokesman Mark Jenkins said in a Friday press release. "Prices at the pump declined as AAA projected last week, largely due to weakness in the stock market and concerns about global crude oversupply.

“Although oil and gasoline futures have been on a rollercoaster ride this week, wholesale gas prices have held steady,” he continued. “Unless oil prices suddenly spike, prices at the pump should remain low through the end of the year."

In 31 percent of gas stations across the United States, motorists are witnessing prices below $2 per gallon of regular unleaded gas after national averages plunged 63 cents since October. Additionally, 63 percent of stations in Tennessee are posting prices below $2 after statewide averages fell 65 cents since October. 

Gas prices in Tennessee averaged $2.03 on Thursday and $2.02 Friday after declining about 6 cents in the past week. This time last year, Tennesseans on average were paying nearly a quarter more per gallon. However, Johnson City’s average gas price stood at $2.11 as of Friday, while Kingsport and Bristol’s averages were $2.09.

For more information on local, state and national gas price market trends, visit www.gasprices.aaa.com or www.gasbuddy.com

 

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