Tennessee is now the 6th least expensive market in the Nation
Nashville, TN – Tennessee gas prices moved a penny more expensive, on average, over last week. The Tennessee Gas Price average is now $2.62, which is 15 cents less expensive than one month ago and 10 cents less than one year ago.
“Gas prices brought more treats than tricks last week for Tennessee drivers,” said Megan Cooper, spokeswoman for AAA – The Auto Club Group. “While we did see our state gas price average fluctuate over last week, prices dipped lower over the weekend. The majority of our metro areas saw minimal change over last week in their metro gas price averages.”
National Gas Prices
As October ended, drivers were paying less than they were when the month began. The national average for a gallon of regular was $3.15 one month ago and $3.05 a week ago. Today, the average is $3.03, once again creeping closer to the 3-dollar mark but not quite there yet.
Gas prices were cruising last month, as crude oil prices remained relatively low due to higher supply and lower demand. Heading into November, drivers may see gas prices continue to fall and perhaps stay low over the busy Thanksgiving travel period.
According to new data from the Energy Information Administration (EIA), gasoline demand increased from 8.45 million b/d last week to 8.92 million. Total domestic gasoline supply decreased from 216.7 million barrels to 210.7 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 33 cents to settle at $60.48 a barrel. The EIA reports crude oil inventories decreased by 6.9 million barrels from the previous week. At 416.0 million barrels, U.S. crude oil inventories are about 6% below the five-year average for this time of year.
Tennessee Regional Prices
- Most expensive metro markets – Nashville ($2.69), Jackson ($2.66), Cleveland ($2.64)
- Least expensive metro markets – Clarksville ($2.51), Chattanooga ($2.56), Kingsport ($2.57)
Tennessee Gas Price Averages
(Price per gallon of regular unleaded gasoline)
 |
Monday | Sunday | Week Ago | Month Ago | One Year Ago |
| Tennessee | $2.628 | $2.634 | $2.615 | $2.776 | $2.720 |
| Chattanooga | $2.562 | $2.591 | $2.523 | $2.764 | $2.644 |
| Knoxville | $2.601 | $2.604 | $2.617 | $2.759 | $2.699 |
| Memphis | $2.629 | $2.632 | $2.658 | $2.781 | $2.767 |
| Nashville | $2.698 | $2.706 | $2.650 | $2.840 | $2.729 |
| 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
For more information, get the AAA Mobile app, visit AAA.com, and follow us on social media.
