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| | Monday, September 18, 2017
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Gas to drop by 50 cents
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. "Hurricanes Harvey and Irma delivered a 1-2 punch on gas prices in the southeastern U.S.," said Mark Jenkins of AAA. But he adds, "Gas prices are poised to plummet 30 cents."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 the fourth quarter." Prices are the highest since 2014 Tennessee was among the states to see the largest gas increase in the past month, all on the south. Tennessee saw the fourth largest increase with a 42 cent per gallon hike. Tennessee gas prices averaged $2.57 on Sunday. The state average is 3 cents less than a week ago, yet remains 51 cents more than this time last year.
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