Tennessee moves to the fifth least expensive market in the nation
Nashville, TN – Gas prices across the state fell four cents, on average, over last week. The Tennessee Gas Price average is now $2.76 which is three cents more expensive than one month ago but nine cents less than one year ago.
“For the last three weeks, Tennessee gas prices have stuck to a trend of either rising or falling by four cents each week,” said Megan Cooper, spokeswoman, AAA – The Auto Club Group.
“A handful of states saw significant movement in their state gas price averages over last week. However, many states, like Tennessee, saw more minimal changes in pump pricing. Tennessee is starting the week as the fifth least expensive market in the nation,” Cooper stated.
National Gas Prices
Amid the threat of tariffs, the national average for a gallon of gas ticked up four cents from last week to $3.13.
According to new data from the Energy Information Administration (EIA), gasoline demand increased from 8.30 million b/d last week to 8.32. Total domestic gasoline supply rose from 248.9 million barrels to 251.1, while gasoline production decreased last week, averaging 9.2 million barrels per day.
Today’s national average for a gallon of gas is $3.13, seven cents more than a month ago but five cents less than a year ago.
National Oil Market Dynamics
At the close of Wednesday’s formal trading session, WTI dropped $1.67 to settle at $71.03 a barrel. The EIA reports that crude oil inventories increased by 8.7 million barrels from the previous week. At 423.8 million barrels, U.S. crude oil inventories are about 5% below the five-year average for this time of year.
Tennessee Regional Prices
- Most expensive metro markets – Johnson City ($2.86), Jackson ($2.82), Kingsport ($2.81)
- Least expensive metro markets – Chattanooga ($2.66), Clarksville ($2.67), Cleveland ($2.69)
Tennessee Gas Price Averages
(Price per gallon of regular unleaded gasoline)
 |
Monday | Sunday | Week Ago | Month Ago | One Year Ago |
| Tennessee | $2.766 | $2.761 | $2.803 | $2.733 | $2.852 |
| Chattanooga | $2.666 | $2.667 | $2.729 | $2.642 | $2.769 |
| Knoxville | $2.793 | $2.797 | $2.829 | $2.731 | $2.833 |
| Memphis | $2.802 | $2.801 | $2.785 | $2.751 | $2.893 |
| Nashville | $2.760 | $2.739 | $2.831 | $2.782 | $2.874 |
| Click here to view current gasoline price averages | |||||
