Tennessee is the 4th Least Expensive Market in the Nation.
Nashville, TN – The Tennessee state gas price average is now in its fourth week of declines, falling eight cents over last week. The Tennessee Gas Price average is now $2.74 which is 31 cents less expensive than one month ago and 70 cents less than one year ago.
“Falling oil prices and gasoline demand continue to push pump prices lower across the state. We’re now seeing the cheapest pump prices since January,” said Megan Cooper, spokeswoman, AAA – The Auto Club Group. “It’s likely that the momentum at the pump will continue this week, which means more savings for Tennessee drivers.”
National Gas Prices
The national average for a gallon of gas kept up its torrid pace of decline, sinking seven cents since last week to $3.20. The primary culprits behind the dip are low demand and falling oil costs.
Today’s national average for a gallon of gas is $3.20, 23 cents less than a month ago and 67 cents less than a year ago.
National Oil Market Dynamics
At the close of Wednesday’s formal trading session, WTI rose by $1.56 to settle at $67.31 a barrel. The EIA reports that crude oil inventories increased by 0.8 million barrels from the previous week. At 419.1 million barrels, U.S. crude oil inventories are about 4% below the five-year average for this time of year.
Tennessee Regional Prices
- Most expensive metro markets – Memphis ($2.82), Knoxville ($2.81), Jackson ($2.80)
- Least expensive metro markets – Chattanooga ($2.57), Cleveland ($2.62), Clarksville ($2.67)
Tennessee Gas Price Averages
(Price per gallon of regular unleaded gasoline)
 |
Monday | Sunday | Week Ago | Month Ago | One Year Ago |
| Tennessee | $2.743 | $2.747 | $2.824 | $3.059 | $3.443 |
| Chattanooga | $2.579 | $2.586 | $2.697 | $3.029 | $3.442 |
| Knoxville | $2.813 | $2.818 | $2.876 | $2.976 | $3.337 |
| Memphis | $2.824 | $2.828 | $2.907 | $3.037 | $3.450 |
| Nashville | $2.726 | $2.728 | $2.806 | $3.155 | $3.532 |
| Click here to view current gasoline price averages | |||||
