TN Gas Prices Fall Four Cents
Tennessee is the 5th least expensive market in the country
Tennessee gas prices fell four cents, on average, over last week. The Tennessee Gas Price average is now $2.76 which is eight cents more expensive than one month ago, but two cents cheaper than one year ago.
"Pump prices moved in a much more favorable direction for drivers over last week," said Megan Cooper, spokeswoman, AAA - The Auto Club Group. "Barring any major shifts in crude oil pricing, it's likely that drivers will continue to see fluctuations in pump pricing. If crude oil prices hold steady at current levels, it's possible that we could see those fluctuations continue in a better direction for drivers."
National Gas Prices
Despite easing oil costs and lackluster domestic gasoline demand, pump prices have held steady since last week at $3.12.
According to new data from the Energy Information Administration (EIA), gasoline demand fell from 8.32 million b/d last week to an anemic 8.08. Meanwhile, total domestic gasoline stocks rose from 243.6 million barrels to 245.9, while gasoline production decreased last week, averaging 9.2 million barrels per day.
Today’s national average for a gallon of gas is $3.12, nine cents more than a month ago and two cents more than a year ago.
National Oil Market Dynamics
At the close of Wednesday’s formal trading session, WTI fell 39 cents to settle at $75.44 a barrel. The EIA reports that crude oil inventories decreased by 1.0 million barrels from the previous week. At 411.7 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 - Johnson City ($2.88), Kingsport ($2.81), Jackson ($2.81)
- Least expensive metro markets - Cleveland ($2.61), Clarksville ($2.66), Chattanooga ($2.67)
Tennessee Gas Price Averages
(Price per gallon of regular unleaded gasoline)
 | Monday | Sunday | Week Ago | Month Ago | One Year Ago |
Tennessee | $2.764 | $2.768 | $2.800 | $2.686 | $2.788 |
Chattanooga | $2.675 | $2.683 | $2.743 | $2.630 | $2.773 |
Knoxville | $2.759 | $2.760 | $2.765 | $2.588 | $2.750 |
Memphis | $2.801 | $2.792 | $2.811 | $2.723 | $2.822 |
Nashville | $2.784 | $2.791 | $2.843 | $2.776 | $2.806 |
Click here to view current gasoline price averages | |||||
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