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Year-end gas prices edge higher

Staff Report • Dec 31, 2019 at 12:15 PM

NASHVILLE — Gas prices in Tennessee and across the country are slowing climbing ahead of the new year.

Tennessee’s average gas price is $2.32, which is 1 cent more expensive than last week and last month and 31 cents more than last year, according to AAA. The national average is $2.58, which is 4 cents more than last week, the same as last month and 31 cents more than last year.

A year-end spike in road trip travel due to the holidays helped make the national average more expensive on the week. Even so, in 2019, the national gas price average was $2.61, which is 10 cents cheaper than the 2018 average of $2.71.

“The majority of states saw gas prices increase in the last week — some by as much as a nickel to a dime, but any spikes in gas prices that motorists are seeing will be short-lived,” said Jeanette Casselano, AAA spokesperson, in a press release. “AAA expects gas prices to decrease following the holidays.”

Local averages

• Johnson City ($2.30)

• Kingsport-Bristol ($2.30)

Most expensive gas prices in the state

• Jackson ($2.39)

• Memphis ($2.36)

• Nashville ($2.36)

Least expensive gas prices in the state

• Cleveland ($2.18)

• Chattanooga ($2.23)

• Clarksville-Hopkinsville ($2.26)

What about oil?

At the close of Friday’s formal trading session on the New York Mercantile Exchange, West Texas Intermediate crude decreased by 4 cents to settle at $61.72, AAA reported.

Crude prices rose last week after the Energy Information Administration’s petroleum status report revealed that total domestic crude stocks decreased by 5.5 million barrels to 441.4 million barrels last week.

Total domestic stocks are now at the level they held at this time last year. If the EIA’s report this week shows another reduction, crude prices could increase again. Higher crude prices will likely help to push pump prices higher moving into next year.

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

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