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AAA reports Tennessee Gas Prices Drop Nearly Two Cents

 

Clarksville-Montgomery County has the Cheapest Gas Prices in Tennessee

AAANashville, TN – For the first time in eight weeks, The Tennessee gas price average declined – nearly two cents cheaper compared to last week. The Tennessee Gas Price average is now $1.94 which is 16 cents more than one month ago and nearly 51 cents less than one year ago. 

“Tennessee drivers saw the cheapest Independence Day gas prices in 16 years over the weekend, ” said Megan Cooper, spokesperson, AAA – The Auto Club Group. “The state average on July 4th was $1.94 – 52 cents less than one year ago and the cheapest since 2004.”

Tennessee Motorists Find Cheapest Independence Day Gas Prices Since 2004. (AAA)

Tennessee Motorists Find Cheapest Independence Day Gas Prices Since 2004. (AAA)

Quick Facts

  • 91% of Tennessee gas stations still have prices below $2.00
  • The lowest 10% of pump prices are $1.76 for regular unleaded
  • The highest 10% of pump prices are $2.20 for regular unleaded
  • Tennessee is the 9th least expensive market in the nation

National Gas Prices

The national gas price average increased just one cent to $2.18 on the week despite a dip in U.S. demand for gasoline and gasoline stocks increasing by 1 million bbl. The slight drop in demand – 47,000 b/d – amid the increase in stocks comes as many states report increases in COVID-19 Coronavirus cases, potentially causing Americans to reconsider outings.

However, for motorists who hit the road for the Independence Day holiday, gas prices were a welcome sight.

National Oil Market Dynamics

At the end of Friday’s formal trading session, WTI increased by 83 cents to settle at $40.65 per barrel. Domestic crude prices increased after EIA’s weekly report revealed that total domestic crude inventories fell by 7.2 million bbl to 533.5 million bbl. Decreasing crude stocks could mean that crude production is meeting demand as it continues to recover amid new coronavirus outbreaks around the world, which could suppress global crude demand during the second half of 2020.

Tennessee Regional Prices

  • Most expensive metro markets –  Nashville ($1.98), Memphis ($1.97), Morristown ($1.96)
  • Least expensive metro markets – Clarksville ($1.86), Kingsport ($1.87), Johnson City ($1.87)

 


Tennessee Gas Price Averages

(Price per gallon of regular unleaded gasoline)

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Monday

Sunday

Week Ago

Month Ago

One Year Ago

Tennessee

$1.937

$1.939

$1.951

$1.774

$2.466

Chattanooga

$1.941

$1.947

$1.959

$1.765

$2.386

Knoxville

$1.894

$1.896

$1.916

$1.728

$2.434

Memphis

$1.965

$1.964

$1.959

$1.768

$2.450

Nashville

$1.978

$1.980

$2.002

$1.849

$2.531

Click here to view current gasoline price averages

 

About AAA – The Auto Club Group

The Auto Club Group (ACG) is the second largest AAA club in North America with more than 14 million members across 14 U.S. states, the province of Quebec and two U.S. territories. ACG and its affiliates provide members with roadside assistance, insurance products, banking and financial services, travel offerings and more. ACG belongs to the national AAA federation with more than 60 million members in the United States and Canada. AAA’s mission is to protect and advance freedom of mobility and improve traffic safety.

For more information, get the AAA Mobile app, visit AAA.com, and follow us on Facebook, Twitter and LinkedIn.


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