TN Gas Prices Rise a Penny
Tennessee is the 4th least expensive market in the nation
NASHVILLE, Tenn., (August 19, 2024) — Gas prices rose six cents at the beginning of last week, but began falling again midweek and through the weekend. We're starting the week only a penny more expensive than last week. The Tennessee Gas Price average is now $3.02 which is 11 cents less expensive than one month ago and 46 cents less than one year ago.
"Volatility in crude oil prices is likely the cause of the fluctuating pump prices that we're seeing in Tennessee," said Megan Cooper, spokeswoman, AAA - The Auto Club Group. "Additional fluctuation in pump prices cannot be ruled out this week, but the good news is that Tennessee has the 4th least expensive state gas price average in the country, and six of our metro areas still have metro averages below $3 per gallon."
National Gas Prices
The national average for a gallon of gas hit $3.41, falling by three cents since last week.
According to new data from the Energy Information Administration (EIA), gas demand edged higher last week from 8.96 million b/d to 9.04. Meanwhile, total domestic gasoline stocks fell from 225.1 to 222.2 million barrels. Gasoline production decreased slightly last week, averaging 9.7 million barrels per day. Tepid gasoline demand and stable oil costs may cause pump prices to slide further.
Today’s national average for a gallon of gas is $3.41, nine cents less than a month ago and 45 cents less than a year ago.
National Oil Market Dynamics
At the close of Wednesday’s formal trading session, WTI fell by $1.37 to settle at $76.98 a barrel. The EIA reports that crude oil inventories increased by 1.4 million barrels from the previous week. At 430.7 million barrels, U.S. crude oil inventories are about 5% below the five-year average for this time of year.
Tennessee Regional Prices
- Most expensive metro markets - Nashville ($3.09), Jackson ($3.07), Cleveland ($3.04)
- Least expensive metro markets - Chattanooga ($2.93), Clarksville ($2.95), Kingsport ($2.95)
Tennessee Gas Price Averages
(Price per gallon of regular unleaded gasoline)
 | Monday | Sunday | Week Ago | Month Ago | One Year Ago |
Tennessee | $3.026 | $3.034 | $3.012 | $3.134 | $3.485 |
Chattanooga | $2.935 | $2.972 | $2.905 | $3.113 | $3.478 |
Knoxville | $2.969 | $2.970 | $2.971 | $3.054 | $3.365 |
Memphis | $3.040 | $3.031 | $3.048 | $3.088 | $3.488 |
Nashville | $3.099 | $3.112 | $3.048 | $3.216 | $3.595 |
Click here to view current gasoline price averages | |||||
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 14 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. Its mission is to protect and advance freedom of mobility and improve traffic safety. Morning Consult recently ranked AAA Insurance as America's most trusted insurance brand for 2026, reflecting the confidence consumers place in the AAA brand. For more information, download the AAA Mobile app, visit AAA.com, and follow us on social media.