Tennessee remains the fifth least expensive market in the country
Nashville, TN – Gas prices fell another four cents, on average, across the state last week. The Tennessee Gas Price average is now $2.73 which is five cents less expensive than one month ago and three cents less than one year ago.
“Fall is officially here, and leaves aren’t the only thing that are falling so far this season,” said Megan Cooper, spokeswoman for AAA – The Auto Club Group. “Tennesseans are seeing a welcome relief at the gas pump thanks to cheaper winter-blend gasoline and the expected seasonal decline in gasoline demand.”
National Gas Prices
The national average for a gallon of regular dropped five cents since last week to $3.13. Fall is officially here, bringing lower gas prices and winter-blend gasoline which is cheaper to produce. Pacific Northwest drivers are getting some relief now that a pipeline issue has been resolved and pump prices are trending downward.
The Atlantic hurricane season is halfway over, but the tropics remain a concern for the next two months if there’s storm activity in the Gulf that affects refineries in the area.
According to new data from the Energy Information Administration (EIA), gasoline demand increased from 8.81 million b/d last week to 8.95 million. Total domestic gasoline supply decreased from 217.6 million barrels to 216.6 million. Gasoline production increased last week, averaging 9.7 million barrels per day.
National Oil Market Dynamics
At the close of Wednesday’s formal trading session, WTI rose $1.58 to settle at $64.99 a barrel. The EIA reports crude oil inventories decreased by 0.6 million barrels from the previous week. At 414.8 million barrels, U.S. crude oil inventories are about 4% below the five-year average for this time of year.
Tennessee Regional Prices
- Most expensive metro markets – Memphis ($2.79), Jackson ($2.78), Nashville ($2.76)
- Least expensive metro markets – Chattanooga ($2.62), Cleveland ($2.64), Clarksville ($2.64)
Tennessee Gas Price Averages
(Price per gallon of regular unleaded gasoline)
 |
Monday | Sunday | Week Ago | Month Ago | One Year Ago |
| Tennessee | $2.732 | $2.726 | $2.777 | $2.784 | $2.768 |
| Chattanooga | $2.623 | $2.605 | $2.680 | $2.760 | $2.728 |
| Knoxville | $2.746 | $2.750 | $2.790 | $2.743 | $2.759 |
| Memphis | $2.793 | $2.788 | $2.801 | $2.811 | $2.786 |
| Nashville | $2.765 | $2.743 | $2.829 | $2.824 | $2.818 |
| 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.
