Monday, June 26, 2017

Gas prices take a dip
Gas prices opened the summer travel season averaging the lowest price in 12 years. Since June 1, Tennessee gas prices averaged $2.07 - 9 cents less than the same period last year, and the lowest since 2005 .  "Lower gas prices will make it more enticing for Americans to take extended, or more frequent road trips this summer," says Mark Jenkins, spokesman for AAA. "And when travelers spend less at the pump, they are left with extra cash to spend on lodging, shopping, and dining out." Gas prices in Tennessee averaged $2.02 on Sunday, yet motorists are finding gas prices as low as 1.80 per gallon at many service stations throughout the state. Tennessee ranks 6th as the state with the lowest daily average price for gasoline. Gas prices are on a hot streak, falling for the 27th consecutive day on Sunday.  The state average declined 3 cents during the past week, according to AAA, whose data is collected from credit card swipes and direct feeds from 120,000 gas stations nationwide.  "Oil prices moved even lower last week, dragging gas prices down with them," Jenkins said. "Oil prices are having a hard time stabilizing amid fears that oversupply will continue dominating market. The slump at the pump is not over yet. Prices are falling at a steady rate, and motorists should see another round of discounts this week."


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