TAMPA, Fla. — Gas prices are mostly climbing around the country. After rising 4 cents during the past week, the national average price for regular unleaded was $2.35 on Sunday.
Gas prices in the United States averaged $2.27 per gallon during the entire month of July – 6 cents more than July 2016.
“Motorists are now finding gas prices that are about 25 cents more expensive than this time last year,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “Although gasoline demand is keeping pace with last year’s levels, oil prices are making the biggest difference in prices at the pump. Steady declines in crude supplies have pushed oil prices about $10 per barrel higher than last year, making it more expensive to produce gasoline.”
Last week’s EIA report showed record-high gasoline demand. In addition, crude supplies declined for the fifth consecutive week. The five-week trend is giving greater confidence to investors. However, their excitement is tempered as total crude storage 70 million barrels above the 5-year average. This, combined with continuously high domestic crude oil output, it is still clear that the glut of crude will not disappear easily. Because of this, oil and gasoline prices are still forecast to retreat after the summer driving season draws to a close.
Crude oil prices surpassed $50 per barrel last week for the first time since May 24. During that time, gas prices were at about the same level as they are now. Although pump prices could see additional upward movement in the coming weeks, any significant gains would not come without further growth in oil prices, a hurricane in the Gulf of Mexico or some sort of interruption in fuel supply.
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Gas Price Tools for Reporters/Consumers
- GasPrices.AAA.com – Daily national, state, and metro gas price averages.
- AAA Mobile app – Free app that shows current prices at a gas station near you.
Regional Gas Prices
Florida gas prices averaged $2.29 on Sunday. The state average is fractions of a cent less than last week, and 14 cents more than this time last year.
Florida gas prices for the month of July averaged $2.18 per gallon; 2 cents more than July 2016.
- The most expensive gas price averages in Florida are in West Palm Beach-Boca Raton ($2.38), Miami ($2.31), and Pensacola ($2.31)
- The least expensive gas price averages in Florida are in Fort Myers-Cape Coral ($2.24), Tampa-St. Petersburg-Clearwater ($2.25), and Orlando ($2.25)
Georgia gas prices averaged $2.23 on Sunday. The state average is 5 cents more than last week, and 25 cents more than this time last year.
Georgia gas prices for the month of July averaged $2.14 per gallon; 8 cents more than the average in July 2016.
- The most expensive gas price averages in Georgia are in Atlanta ($2.29), Savannah ($2.22), and Athens ($2.20)
- The least expensive gas price averages in Georgia are in Augusta-Aiken ($2.12), Macon ($2.14), and Columbus ($2.16)
Tennessee gas prices averaged $2.14 on Sunday. The state average is 6 cents more than a week ago, and 26 cents more than this time last year.
Tennessee gas prices for the month of July averaged $2.03 per gallon; 4 cents more than the average in July 2016.
- The most expensive gas price averages in Tennessee are in Memphis ($2.19), Nashville ($2.15), and Knoxville ($2.14)
- The least expensive gas price averages in Tennessee are in Clarksville-Hopkinsville ($2.06), Chattanooga ($2.07), and Johnson City-Kingsport-Bristol ($2.08)
Highs and Lows of 2017*
- The highest national average price for gasoline, so far this year was $2.42 on April 21; the lowest was $2.23 on July 5.
- The highest average price in Florida, so far this year, was $2.47 on April 21; the lowest was $2.13 on July 17.
- The highest average price in Tampa, so far this year, was $2.46 on April 20; the lowest was $2.00 on July 10.
- The highest average price in Georgia, so far this year, was $2.29 on April 14; the lowest was $2.08 on July 5.
- The highest average price in Tennessee, so far this year, was $2.18 on April 20; the lowest was $1.99 on July 5.
(Based on weekly data provided by the EIA)
|U.S. Crude Oil||U.S. Gasoline|