Nashville, TN – Tennessee gas prices fell four cents, on average, over last week. The Tennessee Gas Price average is now $2.75 which is two cents less expensive than one month ago and 20 cents less than one year ago.
“Tennessee gas prices are continuing their pattern of fluctuating up and down within the same range of pricing,” said Megan Cooper, spokeswoman, AAA – The Auto Club Group.
“Right now, the state gas price average is cheaper than last week, one month ago, and one year ago. This is a nice break for drivers ahead of an expected seasonal rise in gas prices over the next few months as Spring refinery maintenance season usually peaks in late February and into March,” Cooper stated.
National Gas Prices
Most drivers saw few changes at the pump this past week, as the national average for a gallon of fell two cents to $3.14.
According to new data from the Energy Information Administration (EIA), gasoline demand decreased from 8.57 million b/d last week to 8.23. Total domestic gasoline supply dropped from 248.1 million barrels to 247.9. Gasoline production also decreased last week, averaging 9.2 million barrels per day. Today’s national average for a gallon of gas is $3.14, a penny higher than a month ago and 12 cents lower than a year ago.
National Oil Market Dynamics
At the close of Wednesday’s formal trading session, WTI increased 40 cents to settle at $72.25 a barrel. The EIA reports that crude oil inventories increased by 4.6 million barrels from the previous week. At 432.5 million barrels, U.S. crude oil inventories are about 3% below the five-year average for this time of year.
Tennessee Regional Prices
- Most expensive metro markets – Johnson City ($2.82), Jackson ($2.82), Memphis ($2.80)
- Least expensive metro markets – Chattanooga ($2.62), Clarksville ($2.67), Cleveland ($2.67)
Tennessee Gas Price Averages
(Price per gallon of regular unleaded gasoline)
 |
Monday | Sunday | Week Ago | Month Ago | One Year Ago |
| Tennessee | $2.755 | $2.745 | $2.792 | $2.778 | $2.952 |
| Chattanooga | $2.622 | $2.620 | $2.712 | $2.702 | $2.902 |
| Knoxville | $2.777 | $2.779 | $2.805 | $2.762 | $2.927 |
| Memphis | $2.801 | $2.800 | $2.810 | $2.795 | $2.989 |
| Nashville | $2.761 | $2.728 | $2.813 | $2.808 | $2.971 |
| Click here to view current gasoline price averages | |||||
