Gas prices see steady declines after Memorial Day peak, AAA says

Johnson City Press • Updated Jun 18, 2018 at 5:23 PM

Motorists are now getting some welcome relief from high prices at the pump as gas prices continue to steadily decline, AAA analysts said in a Monday news release.

The national average for a gallon of regular unleaded gasoline averaged $2.90 on Sunday after declining 7 cents since Memorial Day weekend. Gas prices in Tennessee declined 3 cents last week, with prices at the pump falling to an average of $2.63 per gallon since peaking at $2.73 on Memorial Day.

•  The most expensive gas price averages in Tennessee were in Nashville ($2.70), Jackson ($2.69) and Memphis ($2.66)

•  The least expensive gas price averages in Tennessee were in Cleveland ($2.55), Knoxville ($2.59) and Johnson City ($2.60)

"Pump prices should sink even lower this week, after wholesale gasoline prices took a dive," AAA spokesman Mark Jenkins said in the release.

”There is now firm downward pressure on the oil market as it appears increasingly likely that OPEC will agree to ease production cuts. As a result, gas prices are poised for another 5- to 10-cent drop."

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

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