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Gas prices fall ahead of Thanksgiving travel

Staff Report • Nov 18, 2019 at 9:00 PM

NASHVILLE — An increase in gasoline stocks has pushed gas prices lower across the country.

Tennessee's state average of $2.31 is 4 cents less than last week, 4 cents less than one month ago and 10 cents less than this time last year, according to AAA. Tennessee has the 10th lowest state average in the nation.

The national average of $2.59 is 2 cents less than last week, 6 cents less than last month and 3 cents less than this time last year. A small number of states saw pump prices decrease more than a dime, though the majority saw fluctuation of a few pennies.

“An increase in gasoline stocks amid robust demand helped to push gas prices cheaper on the week,” said Jeanette Casselano, AAA spokesperson, in a press release. “We would expect this trend to continue throughout most of the month, but the exception is Thanksgiving. With nearly 49.3 million Americans expected to travel by car for the holiday, gas prices may start to fluctuate by the end of this week.”

Local averages

• Johnson City ($2.32)

• Kingsport-Bristol ($2.29)

Most expensive gas prices in the state

• Jackson ($2.35)

• Memphis ($2.34)

• Nashville ($2.34)

Least expensive gas prices in the state

• Cleveland ($2.22)

• Chattanooga ($2.25)

• Clarksville-Hopkinsville ($2.25)

What about oil?

At the close of Friday’s formal trading session on the New York Mercantile Exchange, West Texas Intermediate crude increased by 95 cents to settle at $57.72, AAA reported.

Crude prices increased last week, despite the Energy Information Administration’s report that domestic crude inventories increased due to increased optimism that China and the U.S. — the world’s two largest crude consumers — are continuing to resolve ongoing trade tensions.

The tensions sparked market fears that global crude demand would suffer as a result of increased tariffs between both countries.

To view daily gas price averages, visit www.GasPrices.AAA.com.

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