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Gas prices see steady declines

Staff Report • Jun 18, 2018 at 6:45 PM

NASHVILLE — Motorists are getting some welcome relief from high prices at the gas pump.

The national price for a gallon of regular unleaded averaged $2.90 on Sunday after declining 7 cents since Memorial Day weekend, AAA reported.

Gas prices in Tennessee declined 3 cents last week, averaging $2.65 per gallon on Sunday. Since peaking at $2.73 on Memorial Day weekend, prices have declined 8 cents, according to AAA.

“Pump prices should sink even lower this week after wholesale gasoline prices took a dive,” said Mark Jenkins, AAA spokesman, in a press 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 5-10 cent drop.”

Most expensive gas prices in the state

• Nashville ($2.70)

• Jackson ($2.69)

• Memphis ($2.66)

Least expensive gas prices in the state

• Cleveland ($2.55)

• Knoxville ($2.59)

• Johnson City ($2.60)

Average summer gas prices

• Tennessee: Sunday’s average of $2.65 is 57 cents higher than last summer’s average. The highest summer average in recent years was in 2014, when prices averaged $3.35.

• National: Sunday’s average of $2.90 is 59 cents higher than last summer’s average. The highest summer average in recent years was in 2014, when prices averaged $3.57.

To view daily gas price averages, visit GasPrices.AAA.com.

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