TN Gas Prices Fall 21 Cents
Tennessee is the 10th least expensive market in the nation
NASHVILLE, Tenn., (June 1, 2026) — Gas prices across the state steadily declined over last week, falling 21 cents, on average. The Tennessee Gas Price average is now $3.93 which is three cents less expensive than one month ago and $1.23 more expensive than one year ago.
"Crude oil prices have consistently declined over the last week amid reports of peace talks with Iran that would potentially reopen the Strait of Hormuz," said Megan Cooper, spokeswoman for AAA - The Auto Club Group. "The price of crude oil accounts for about half the price you see at the gas pump, so any time we see dramatic drops in crude oil pricing we typically see this reflected in our pump prices as well."
National Gas Prices
The national average for a gallon of regular gasoline is down 18 cents from last week to $4.32. Crude oil prices have been going down amid reports of peace talks with Iran. But the fragile situation could cause oil prices to spike again if a ceasefire deal isn’t reached. Gas prices remain the highest they’ve been in four years and will likely remain elevated as the busy summer driving season gets underway.
According to new data from the Energy Information Administration (EIA), gasoline demand increased last week from 8.76 million b/d to 9.25 million. Total domestic gasoline supply decreased from 214.2 million barrels to 211.6 million. Gasoline production increased last week, averaging 9.9 million barrels per day.
National Oil Market Dynamics
At the close of Wednesday’s formal trading session, WTI fell $5.21 to settle at $88.68 a barrel. The EIA reports crude oil inventories decreased by 3.3 million barrels from the previous week. At 441.7 million barrels, U.S. crude oil inventories are about 2% below the five-year average for this time of year.
Tennessee Regional Prices
- Most expensive metro markets - Memphis ($3.99), Knoxville ($3.97), Nashville ($3.96)
- Least expensive metro markets - Chattanooga ($3.71), Clarksville ($3.78), Cleveland ($3.85)
Tennessee Gas Price Averages
(Price per gallon of regular unleaded gasoline)
| Monday | Sunday | Week Ago | Month Ago | One Year Ago |
| Tennessee | $3.933 | $3.955 | $4.143 | $3.966 | $2.707 |
| Chattanooga | $3.710 | $3.758 | $4.045 | $3.928 | $2.643 |
| Knoxville | $3.974 | $3.996 | $4.178 | $3.940 | $2.685 |
| Memphis | $3.992 | $4.005 | $4.123 | $3.956 | $2.738 |
| Nashville | $3.963 | $3.980 | $4.182 | $3.986 | $2.745 |
| 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.
The Auto Club Group (ACG), named a 2026 Forbes Most Trusted Company in America, 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 is part of the national AAA federation, which serves more than 66 million members across the United States and Canada. AAA’s mission is to protect and advance freedom of mobility and improve traffic safety. For more information, download the AAA Mobile app, visit AAA.com, and follow us on social media.