Gas prices down a dime

Posted January 24, 2018

"Consumers are really accustomed to seeing gas prices dip in early January".

The least expensive gas price averages in Tennessee were in Chattanooga at $2.28, Cleveland at $2.31 and Clarksville-Hopkinsville at $2.31. Next is Shelby at $2.300 followed by Hancock at $2.301, Hardin at $2.349, Auglaize at $2.37, Putnam at $2.39, Van Wert at $2.399, Mercer at $2.401 and Logan County at $2.49.

For Virginia, the average price per gallon is now $2.37, which is the 12th lowest in the country, according to AAA.

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The average price of gasoline in MA is 28 cents higher than it was at this time a year ago, when it sold for $2.23 per gallon.

Gas prices increased for 41 states with Florida seeing the largest jump at the pump with a 9-cent increase, AAA said, while the federal Energy Information Administration reported that demand for gasoline decreased only slightly.

New Orleans- $2.32/g, up 5.7 cents per gallon from last week's $2.26/g. Gas prices has gone up 22.2 cents since previous year and is up 9 cents since last month. The EIA reports that while gasoline demand modestly decreased, inventory increased by 3.6 million barrels.

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Gas prices are still on the rise in northern New England.

"It has been anything but a normal January for prices at the pump", AAA spokesman Mark Jenkins said in a statement.

The largest yearly changes in the top ten markets are: California (+39 cents), in (+37 cents), MI (+32 cents), Alaska (+30 cents), OR (+28 cents), Hawaii (+28 cents), Montana (+28 cents), OH (+27 cents), IL (+25 cents) and Tennessee (+25 cents). Market observers are looking for indications that growth in the global crude market has slowed, but the US has bucked that trend. Oil prices slid after EIA's latest petroleum report underscored that domestic crude production in the USA continues to grow.

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At the close of Friday's formal trading session on the NYMEX, West Texas Intermediate dropped 58 cents to settle at $63.37.