Tennessee is the 5th least expensive market in the nation
Nashville, TN – Tennessee gas prices rose two cents, on average, over last week. The Tennessee Gas Price average is now $2.70 which is nine cents less expensive than one month ago and 39 cents less than one year ago.
“Our gas prices continue to fluctuate across the state as many Tennesseans are heading into spring break this week,” said Megan Cooper, spokeswoman, AAA – The Auto Club Group.
“For those that are planning a road trip, the good news is that quite a few states now have state gas price averages below $3/gallon. We’re also seeing gas prices cheaper than one year ago – 39 cents cheaper both at the state and national level,” Cooper stated.
National Gas Prices
Despite increased demand, gas prices dipped lower this week, with today’s national average at $3.07 per gallon, about a penny lower than a week ago. This drop at the pump comes as many travelers gear up to hit the road for spring break and drivers may be surprised to find gas under $3 in 29 states.
According to new data from the Energy Information Administration (EIA), gasoline demand increased from 8.87 million b/d last week to 9.18. Total domestic gasoline supply decreased from 246.8 million barrels to 241.1, leaving them slightly below seasonal averages. Gasoline production also decreased last week, averaging 9.6 million barrels per day.
Today’s national average for a gallon of gas is $3.07, about 9 cents lower than a month ago and 39 cents less than a year ago.
National Oil Market Dynamics
At the close of Wednesday’s formal trading session, WTI increased $1.43 to settle at $67.68 a barrel. The EIA reports that crude oil inventories decreased by 1.4 million barrels from the previous week. At 435.2 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 – Jackson ($2.76), Memphis ($2.75), Johnson City ($2.74)
- Least expensive metro markets – Chattanooga ($2.60), Morristown ($2.63), Clarksville ($2.63)
Tennessee Gas Price Averages
(Price per gallon of regular unleaded gasoline)
 |
Monday | Sunday | Week Ago | Month Ago | One Year Ago |
| Tennessee | $2.701 | $2.710 | $2.687 | $2.792 | $3.091 |
| Chattanooga | $2.602 | $2.621 | $2.539 | $2.712 | $2.981 |
| Knoxville | $2.687 | $2.686 | $2.711 | $2.805 | $3.065 |
| Memphis | $2.757 | $2.753 | $2.741 | $2.810 | $3.141 |
| Nashville | $2.734 | $2.746 | $2.691 | $2.813 | $3.107 |
| Click here to view current gasoline price averages | |||||
Gas Price Survey Methodology
Every day up to 130,000 stations in the nation and more than 4,200 stations in Tennessee 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.
AAA updates fuel price averages daily at www.GasPrices.AAA.com.
About AAA – The Auto Club Group
The Auto Club Group (ACG) is the second largest AAA club in North America with more than 13 million members across 14 U.S. states 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 65 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 social media.
