Clarksville-Montgomery County has the Second Cheapest Gas Prices in Tennessee
Nashville, TN – Tennessee gas prices increased on Thursday for the first time in more than a month, according to AAA, whose data is collected from credit card swipes and direct feeds from 120,000 gas stations nationwide, in cooperation with OPIS and Wright Express.
This snapped a 37-day streak of declines that delivered a discount of 12 cents.
“AAA forecasted the streak of gas price declines would come to an end last week,” said Mark Jenkins, spokesman, AAA The Auto Club Group.“What came as a bit of a surprise was the abrupt U-turn oil prices made after Independence Day. Instead of building on the momentum that pushed oil above $47.00 a barrel, the rally suddenly ran out of steam and oil stumbled back below $45.00. What that means to motorists is a short lived bump in prices at the pump,” stated Jenkins.
On Sunday, Tennessee gas prices averaged $2.01.
The state average is 1-cent more than last week, 3 cents less than a year ago, and 25 cents less than the national average.
Highest and Lowest Gas Prices in Tennessee
|First 40 Days of Summer
(June 1 – July 10)
- The most expensive gas price averages in Tennessee are in Memphis ($2.06), Nashville ($2.04), and Knoxville ($1.97)
- The least expensive gas price averages in Tennessee are in Chattanooga ($1.90), Clarksville-Hopkinsville ($1.97), and Johnson City-Kingsport-Bristol
Gas prices for the first 40 days of summer (June 1st – July 10tn) have averaged the lowest in more than a decade. Prices averaged $2.05 in Tennessee, which is the lowest for the 40-day period since 2004, when gas prices averaged $1.86.
Oil Price Rally Runs Out of Steam
A shift in futures prices effectively brought the pump price plunge to a halt. Oil prices made steady gains, increasing from $42.53 to $47.07 over the course of 13 days, raising the cost of producing gasoline.
However, prices at the pump barely had time to respond before oil slumped back below $45.00 on Wednesday. Despite bullish data from the EIA showing strong demand and reduced inventories, fuel production and supply levels remain especially high for this time of year, preventing oil prices from gaining solid footing.
Long term forecasts remain favorable for motorists. Many analysts are moving to the position that demand levels will not surpass last year’s record highs. Wells Fargo expects oil prices to remain below $50.00/b for the next 12 months, according to a statement made on Wednesday. That would put a ceiling on gas prices of about $2.50, if the forecast holds.
Gas Price Tools for Reporters/Consumers
- GasPrices.AAA.com – Daily national, state, and metro gas price averages.
- AAA Mobile app – Free app that shows current prices at a gas station near you.
(Based on weekly data provided by the EIA)
Current and Past Price Averages
Regular Unleaded Gasoline
|Sunday||Saturday||Week Ago||Month Ago||One Year Ago||Highest Price on Record|
|Click here to view current gasoline price averages|
Gas Price Survey Methodology
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.