Tennessee moves to 5th least expensive market for gasoline
Nashville, TN – Gas prices across the state fell six cents, on average, over last week. The Tennessee Gas Price average is now $2.78 which is four cents more expensive than both one month and one year ago.
“It seems that gas prices are beginning to ease – all metro areas in Tennessee are cheaper now than they were one week ago,” said Megan Cooper, spokeswoman for AAA – The Auto Club Group. “As we head into Fall, cooler weather, lower gasoline demand, and an abundance of crude oil supply typically mean cheaper prices at the gas pump.”
National Gas Prices
As drivers settle into their fall routines, gas demand is going down, and eventually, pump prices should follow suit. The national average for a gallon of regular is down two cents to $3.17. There remains an abundance of crude oil supply which is outweighing demand. The seasonal transition to winter-blend gasoline – which is cheaper to produce – is also beginning.
According to new data from the Energy Information Administration (EIA), gasoline demand decreased from 9.11 million b/d last week to 8.50 million. Total domestic gasoline supply increased from 218.5 million barrels to 220 million. Gasoline production decreased last week, averaging 9.6 million barrels per day.
National Oil Market Dynamics
At the close of Wednesday’s formal trading session, WTI rose $1.04 to settle at $63.67 a barrel. The EIA reports crude oil inventories increased by 3.9 million barrels from the previous week. At 424.6 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 – Nashville ($2.82), Memphis ($2.81), Jackson ($2.80)
- Least expensive metro markets – Chattanooga ($2.71), Clarksville ($2.71), Morristown ($2.72)
Tennessee Gas Price Averages
(Price per gallon of regular unleaded gasoline)
 |
Monday | Sunday | Week Ago | Month Ago | One Year Ago |
| Tennessee | $2.781 | $2.778 | $2.841 | $2.747 | $2.746 |
| Chattanooga | $2.711 | $2.718 | $2.801 | $2.660 | $2.586 |
| Knoxville | $2.783 | $2.783 | $2.859 | $2.732 | $2.817 |
| Memphis | $2.815 | $2.816 | $2.828 | $2.791 | $2.827 |
| Nashville | $2.822 | $2.806 | $2.902 | $2.787 | $2.727 |
| 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.
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, 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.
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