Southeastern states see the highest monthly increases in the U.S.
TAMPA, Fla. (— Gasoline availability continues to improve after Hurricane Irma drove-up demand and left many gas stations without fuel. A steady stream of ships delivering gasoline to Florida’s ports are helping to normalize supply levels in the southeastern U.S., and gas prices are beginning to drift a little lower.
Last week, gasoline hit the highest price in 3 years. During that time in 2014, oil was (and usually is) the main driver of pump prices, as crude traded between $65-$75 per barrel. This year, hurricanes became the catalyst. Although oil prices hovered around $46-$49/b, gas prices shot up 46 cents (Florida), 55 cents (Georgia), and 46 cents (Tennessee), since August 22.
“Hurricanes Harvey and Irma delivered a 1-2 punch on gas prices in the southeastern U.S.,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “Prices surged when Hurricane Harvey caused refinery outages along the Gulf Coast. As refineries recovered, gas prices should have begun to decline after Labor Day, but the arrival of hurricane Irma caused a surge in demand, preventing the impending plunge.
“Gas prices are poised to plummet 30 cents,” Jenkins continued. “It will not happen overnight, as pump prices decline much slower than they rise. Plus, the threat of any new storms making landfall in the United States would compromise the collapse. However, motorists should see gas prices decline through the end of the month, and possibly reach the lowest point of the year in Q4.”
Highs and Lows of 2017*
- The highest national average price for gasoline, so far this year was $2.65 on September 14; the lowest was $2.23 on July 5.
- The highest average price in Florida, so far this year, was $2.73 on September 14; the lowest was $2.13 on July 17.
- The highest average price in Georgia, so far this year, was $2.76 on September 12; the lowest was $2.08 on July 5.
- The highest average price in Tennessee, so far this year, was $2.60 on September 10; the lowest was $1.99 on July 5.
CURRENT AND PAST PRICE AVERAGES
Regular Unleaded Gasoline
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Gas Price Survey Methodology
AAA updates fuel price averages daily at http://www.GasPrices.AAA.com. Every day up to 120,000 stations are surveyed based on credit card swipes and direct feeds in cooperation with the Oil Price Information Service (OPIS) and Wright Express for unmatched statistical reliability. All average retail prices in this report are for a gallon of regular, unleaded gasoline.
About The Auto Club Group
The Auto Club Group (ACG) is the second largest AAA club in North America. ACG and its affiliates provide membership, insurance, financial services and travel offerings to over 9.4 million members across eleven states and two U.S. territories including Florida, Georgia, Iowa, Michigan, Nebraska, North Dakota, Tennessee, Wisconsin, Puerto Rico and the U.S. Virgin Islands; most of Illinois and Minnesota; and a portion of Indiana. ACG belongs to the national AAA federation with more than 57.7 million members in the United States and Canada and whose mission includes protecting and advancing freedom of mobility and improving traffic safety. Motorists can map a route, identify gas prices, find discounts, book a hotel, and access AAA roadside assistance with the AAA Mobile app for iPhone, iPad and Android. Learn more at AAA.com/mobile. AAA clubs can be visited on the Internet at AAA.com.