Gas prices falling in Tennessee, still 13 cents higher than pre-Harvey

Johnson City Press • Updated Oct 23, 2017 at 10:22 AM

Though Hurricane Harvey caused gas prices to rise throughout the country, they are now on a steady decline, according to AAA - The Auto Club.

In Tennessee, gas prices dropped another four cents during the past week. While gas prices still remain 13 cents higher than pre-Harvey levels, the state average has declined the last 42 consecutive days for a total of 32 cents, with gas prices now averaging $2.27.

The most expensive gas in the state is in Nashville, Clarksville-Hopkinsville and Memphis, which have average prices of $2.38, $2.30 and $2.27.

The least expensive gas is in Chattanooga, Knoxville and the Tri-Cities, with averages at $2.16, $2.22 and $2.22.

According to the latest report from the Energy Information Administration, gasoline stocks continue to rise across the nation, as weekly demand decline by 3.6 percent during the week of Oct. 13. Meanwhile, oil prices gained almost a dollar last week, according to the EIA, who reported a 5.7 million barrel decline in oil supply and a 1 million barrel drop in production.

"Motorists should expect another round of discounts at the pump this week," Mark Jenkins, AAA Spokesman, wrote in a press release. "Gasoline futures and wholesale prices gained some strength last week, but not enough to stop the pump price plunge. Retail prices remain about 5-10 cents higher than where they should be, based on current fundamentals." 

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