AAA reports Tennessee Gas Prices Drop 3 cents

Clarksville Gas Prices among the cheapest in Tennessee

Tampa, FL – Tennessee gas prices averaged $2.12 on Sunday, the lowest in more than a month. Pump prices dropped 3 cents in the past week, and prices should drift even lower this week.

The highest average price so far this year for regular unleaded was $2.18 on April 20th. Since that time, the state average has declined 17 consecutive days for a total discount of 6 cents. 

“Gas prices are falling due to continued high production rates from U.S. refineries, moderate demand, and a recent drop in crude oil prices,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “If this trend holds, gasoline will be near or below year-ago levels by Memorial Day, and rival prices seen last summer.”

Gas prices are almost as low as last year. In February, prices were 57 cents higher than year-ago levels.

The year-over-year difference in Tennessee has since fallen to only 3 cents on Sunday.

• The most expensive metro markets in the state are Knoxville ($2.14), Nashville ($2.14), and Memphis ($2.13)
• The least expensive metro markets in the state are Chattanooga ($2.05), Clarksville/Hopkinsville ($2.08), and Johnson City/Kingsport/Bristol ($2.11)

Last year, the state average was $2.16 on Memorial Day, and $2.03 from June 1st – August 31st, 2016. 

Find Local Gas Prices

• Visit Gasprices.aaa.com for national, state, and metro gas price averages.
• Motorists can find the lowest gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.

Current and Past Price Averages

Regular Unleaded Gasoline

 

Fuel Fundamentals (Based on weekly data provided by the EIA)
Crude oil prices averaged $47.21 per barrel last week, the lowest weekly average since November 18. U.S. crude inventories fell 0.1 percent Domestic crude production increased 0.3 percent Refineries operated at slightly lower than record highs seen last week. The U.S. rig count increased by another 7 this week to a total of 877 – that’s more than double the amount from this time last year.	Wholesale gasoline plunged on Thursday, losing nearly 20 percent value compared to highs seen in mid-April. Gasoline production increased 0.75 percent Gasoline supply increased 1 percent over the week before Gasoline demand declined for the third consecutive week. Demand was especially high last year, due to lower gas prices.

AAA updates fuel price averages daily at www.GasPrices.AAA.com. Every day up to 120,000 stations are surveyed based on credit card swipes and direct feeds in cooperation with the Oil Price Information Service (OPIS) and Wright Express for unmatched statistical reliability. All average retail prices in this report are for a gallon of regular, unleaded gasoline.

About The Auto Club Group

The Auto Club Group (ACG) is the second largest AAA club in North America.  ACG and its affiliates provide membership, insurance, financial services and travel offerings to over 9 million members across eleven states and two U.S. territories including Florida, Georgia, Iowa, Michigan, Nebraska, North Dakota, Tennessee, Wisconsin, Puerto Rico and the U.S. Virgin Islands; most of Illinois and Minnesota; and a portion of Indiana. 

ACG belongs to the national AAA federation with more than 57 million members in the United States and Canada and whose mission includes protecting and advancing freedom of mobility and improving traffic safety. Motorists can map a route, identify gas prices, find discounts, book a hotel, and access AAA roadside assistance with the AAA Mobile app for iPhone, iPad and Android.

Learn more at AAA.com/mobile. AAA clubs can be visited on the Internet at AAA.com.