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AAA says Tennessee Gas Prices Drop another 5 Cents This Week

 

AAANashville, TN – AAA reports that Tennessee gas prices have continued their decline for a consecutive 37 days, dropping 21 cents since January 5th when the Tennessee gas price average was $2.39.

The Tennessee Gas Price average  is $2.18 which is five cents cheaper than last week, 21 cents less than one month ago, and 14 cents more than one year ago.

Tennessee Gas Pump average has declined consecutively for 37 days. (AAA)

Tennessee Gas Pump average has declined consecutively for 37 days. (AAA)

“Tennessee motorists are experiencing the cheapest prices at the pump that we’ve seen in 2020,” said Megan Cooper, spokeswoman, AAA – The Auto Club Group.

“Cheaper crude and healthy stock levels are helping to push gas price averages across the state lower,” Cooper stated.

National Gas Prices

Today’s national gas price average is $2.44. That is four cents cheaper than last week and 16 cents cheaper than last month. Motorists across the country can find gas for less than $2.25 at 1 in 3 (38%) of all gas stations.

Oil Market Dynamics

At the close of Friday’s formal trading session on the NYMEX, WTI dropped by 63 cents to settle at $50.32. Crude prices have dropped for the third consecutive week as market concerns continue to increase due to the growing impact of the coronavirus on global travel.

If international travel decreases, global crude demand would likely follow suit and result in lower crude consumption worldwide. Prices could decrease again this week if concerns about the virus continue to weigh on the crude oil market.

Tennessee Regional Prices

  • Most expensive metro markets –  Morristown ($2.28), Memphis ($2.25), Jackson  ($2.24)
  • Least expensive metro markets – Cleveland ($1.99), Chattanooga ($2.08), Clarksville ($2.12)

AAA Gas Prices Averages

(Price per gallon of regular unleaded gasoline)

Monday Sunday Week Ago Month Ago One Year Ago
National $2.43 $2.44 $2.47 $2.60 $2.28
Tennessee $2.18 $2.19 $2.23 $2.39 $2.04
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 130,000 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 AAA – 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, banking, financial services, and travel offerings to over 13.5 million members across 13 U.S. states, the province of Quebec and two U.S. territories including Florida, Georgia, Iowa, Michigan, Nebraska, North Carolina, North Dakota, Tennessee, Wisconsin, Puerto Rico, South Carolina 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 60 million members in the United States and Canada 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. Visit AAA on the Internet at AAA.com.


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