With Thanksgiving and Christmas around the bend, motorists shouldn’t expect too heavy of a cost at the pumps.
According to information provided by AAA – The Auto Club Group, Tennessee gas prices declined for the 49th consecutive day on Sunday, totaling an overall discount of 34 cents. The state average only declined two cents last week, a vast contrast to previous weeks when there was a seven to 10 cents decline.
Stephanie Milani, public affairs director for AAA, noted the state has experienced a decline but is reaching a plateau due to many factors, including the rebound of crude oil prices and the forecasted drop not occurring with supplies.
“The streak of falling prices should come to an end this week,” Mark Jenkins, AAA spokesman, said in a statement issued to the Elizabethton Star. “Oil and wholesale gas prices made solid gains last week, after the EIA’s supply report showed high U.S. crude oil and gasoline exports, and an increase in gasoline demand. Continued growth in oil inventories will keep a ceiling on oil prices, and prevent gasoline prices from making strong gains. While there could be some volatility, gas prices should follow a mostly downward trend through the rest of the year. However, the discount at the pump is not currently forecast to be much lower than present levels.”
In the state, gas price average increased by one cent, $2.26 to $2.27. For the Johnson City-Kingsport-Bristol category, which Carter County falls in, AAA announced the average for the region is $2.26 cents.
Milani added that residents can visit gasprices.aaa.com or download the AAA mobile app for devices to stay updated with gas prices across the country.
Additional information about the upcoming slate for holiday travel, and how residents can prepare for an influx of motorists, will be released by the organization next week.