Gas prices fall in advance of Memorial Day weekend

Johnson City Press • Updated May 20, 2019 at 5:44 PM

While last week marked substantial growth in gas prices and the potential for further increases, gas prices have fallen this week, down to an average of $2.54 in the state — a drop of three cents since last week.

Prices are 13 cents lower than this time last year and are not expected to rise in advance of the Memorial Day holiday. AAA estimates 43 million travelers will hit the road this weekend for Memorial Day, 863,565 of which will be Tennesseans.

Nationally, the average price for gas is $2.85, but Stephanie Milani, AAA — The Auto Club Group, Tennessee public affairs director, notes that most American motorists can find gas below $2.75. She points to the stability of crude oil prices as a driving factor in the decreases in gas prices, saying it’s "one reason helping gas prices be cheaper than last year at this time.”

Crude oil prices have dropped 11 cents in the last week and now sit at $62.76 per barrel. Crude prices are expected to rise, however, as tensions continue to rise globally and supply-increase concerns continue.

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