Tennessee Gas Prices are up five cents compared to last week. Today's state average is $2.35 which is the same as a month ago, but 14 cents less than last year.
Likewise, the national average is $2.61, which is one cent more than last week, three cents more than one month ago, but eight cents less than this time last year.
"Last week's data from the Energy Information Administration (EIA) revealed that total domestic stocks of gasoline decreased for the sixth consecutive week and that demand was unseasonably high," said Stephanie Milani, Tennessee Public Affairs Director, AAA - The Auto Club Group. "This week's demand is looking more seasonal and while drives are likely to see continued fluctuation at the pump, major increases are not expected in the week ahead."
At the close of Friday's formal trading session on the NYMEX, WTI increased by nine cents to settle at $57.24. Crude prices have increased this week as a result of increased optimism that China and the U.S. - the world's two largest crude consumers - are continuing to resolve ongoing trade tensions. The trade conflict had previously sparked market fears that global crude demand would suffer as a result of increased tariffs between both countries
