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Gas prices continue steady increase ahead of holiday

Staff Report • Jun 30, 2020 at 7:30 PM

NASHVILLE — Gas prices in Tennessee are steadily climbing, but local averages are still some of the lowest in the state.

The state average is $1.95, which is 24 cents more than one month ago and nearly 47 cents less than one year ago, AAA reported.

“The increase in gasoline demand contributed towards the state average’s six cent jump to $1.95,” said Megan Cooper, spokesperson for AAA — The Auto Club Group, in a press release. “That average may continue to increase ahead of the Independence Day holiday weekend; however, travelers could find pump prices nearly 50 cents cheaper than last year’s holiday.”

Quick facts

• 90% of Tennessee gas stations still have prices below $2.

• The lowest 10% of pump prices are $1.77 for regular unleaded.

• The highest 10% of pump prices are $2.19 for regular unleaded.

Most expensive gas prices in the state

• Nashville ($2.00)

• Cleveland ($1.98)

• Chattanooga ($1.96)

Least expensive gas prices in the state

• Johnson City ($1.87)

• Kingsport ($1.88)

• Clarksville ($1.88)

Summer travel outlook

AAA did not release an Independence Day holiday travel forecast this year, but does forecast that Americans will take 683 million road trips from July 1-Sept. 30. Before you hit the road for the holiday or a summer trip, follow these tips:

• Make sure your vehicle is road trip ready; have your engine and oil levels checked.

• Include an emergency road kit in your vehicle with an extra cell phone charger, first-aid kit, a blanket, flashlight, basic tools, jumper cables and gloves.

• Visit AAA’s COVID-19 Travel Restrictions Map at TripTik.AAA.com for the latest state and local travel restrictions.

• Pack face coverings, cleaning supplies and a thermometer.

• Take all necessary travel documentation, including health insurance cards.

Across the nation

On the week, gasoline demand, as estimated by the Energy Information Administration (EIA), increased 10% from 7.8 million barrels to 8.6 million barrels.

While the demand rate is much lower than a typical summer reading, it’s the highest recorded since late March showing continued signs that Americans are filling up more.

What about oil?

At the end of Friday’s formal trading session, West Texas Intermediate crude decreased by 23 cents to settle at $38.49 per barrel, AAA reported.

Domestic crude prices pushed cheaper last week due to an increase in new coronavirus infections worldwide, which could suppress crude demand if stay-at-home orders increase. For this week, crude prices could continue to decline if the market continues to worry that efforts to stimulate the global economy will falter because of uncontained outbreaks.

To view daily gas price averages, visit gasprices.aaa.com.

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