Nashville, TN – The Tennessee Gas Price average is now $2.76 which is one cent less than last week, but 32 cents less than this time last year.
“With students returning to school, we expect to see less demand for gasoline,” said Stephanie Milani, spokeswoman for AAA — The Auto Club Group. “Although gasoline demand declines in the fall, crude oil prices are already low, and we haven’t seen the typical summer spike. Gas prices will likely remain stable and low in the coming weeks, barring any wild swings in the price of crude oil.”
National Gas Prices
This past week, the national average for a gallon of regular gasoline dropped two cents to $3.14. July comes to an end with a monthly average of $3.15, the same price as it was in July 2021, which is the last time summer gas prices were this low. Crude oil prices have gone up slightly, as gas demand has also risen, but not enough to drive up prices at the pump.
National Oil Market Dynamics
At the close of Wednesday’s formal trading session, WTI rose 79 cents to settle at $70 a barrel. The EIA reports crude oil inventories increased by 7.7 million barrels from the previous week. At 426.7 million barrels, U.S. crude oil inventories are about 6% below the five-year average for this time of year.
Tennessee Gas Price Averages
(Price per gallon of regular unleaded gasoline)
 |
Monday | Sunday | Week Ago | Month Ago | One Year Ago |
| Tennessee | $2.76 | $2.75 | $2.77 | $2.75 | $3.08 |
| Chattanooga | $2.66 | $2.64 | $2.70 | $2.61 | $3.03 |
| Knoxville | $2.74 | $2.74 | $2.74 | $2.77 | $3.00 |
| Memphis | $2.81 | $2.81 | $2.82 | $2.81 | $3.05 |
| Nashville | $2.81 | $2.78 | $2.82 | $2.73 | $3.17 |
| Click here to view current gasoline price averages | |||||
Gas Price Survey Methodology
AAA updates fuel price averages daily at www.GasPrices.AAA.com. Every day up to 130,000 stations 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.
