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Tri-Cities gas prices fall 4 cents after run-up

Kevin Castle • Oct 5, 2007 at 12:00 AM

Drivers in the Tri-Cities got a slight break at the pump this week as unleaded prices decreased, according to the latest AAA Fuel Gauge Report.

The agency reported an average 4 cent decrease among the the three reporting cities in the Fuel Gauge network, with Bristol experiencing the most significant drop — a 4.4 cent plunge.

“Unfortunately the decreases seen this week do not make up for the large increases seen last week. The national average ... is 6 cents higher than the average one month ago and 4.81 cents higher than one year ago,” said AAA East Tennessee spokeswoman Stephanie Milani.

A scan of 10 stations’ price boards in Bristol reveals a 4.4 cent drop in price over last week, with an average low price in that city at $2.67.

In Johnson City, drivers there are finding prices almost 4 cents cheaper than last week, with prices ranging from $2.61 to $2.69 per gallon.

Kingsport’s Fuel Finder price is $2.67 a gallon — the average arrived at from a check of 13 stations in the city — a 3.3 cent decrease from last week.

The drop in prices at local gasoline stations could be short-lived according to a recent report by the Associated Press, citing a surprising decrease in gasoline supplies.

“Crude stockpiles rose by 1.2 million barrels in the week ended Sept. 28, while gasoline inventories decreased slightly by 100,000 barrels,” the AP reported.

“That compares with analysts’ consensus forecast for a draw of 400,000 barrels of crude and a build of 400,000 barrels of gasoline, according to a Dow Jones Newswires survey. Supplies of distillates including diesel fuel and heating oil dropped by 1.2 million barrels versus a projected decline of 400,000 barrels.”

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