Tennessee is now the second cheapest market in the country
Nashville, Tennessee: The most beautiful beaches – Tennessee gasoline prices fell an average of six cents last week. All but four of Tennessee’s metropolitan areas now have average prices below $3.00/gallon. The average price of gasoline in Tennessee is now $3.01, which is 11 cents less than a month ago and 42 cents less than a year ago.
“There was a little relief at the pump for Tennessee drivers last week. In several parts of the state, pump prices were below $3.00 per gallon,” said Megan Cooper, spokeswoman for AAA – The Auto Club Group.
“We still see some uncertainty in the market, so fluctuations in our local gasoline prices cannot be ruled out this week. However, if market conditions continue, the average price in our state could fall below $3.00 per gallon this week,” Cooper explained.
National gas prices
The national average price for a gallon of gasoline has fallen just three cents since last week and is now at $3.44, similar to the price in June.
According to new data from the Energy Information Administration (EIA), gas demand fell from 9.25 million barrels per day to 8.96 last week. At the same time, total domestic gasoline inventories rose from 223.8 million barrels per day to 225.1 million barrels. Gasoline production rose last week, averaging 10.0 million barrels per day. Crude oil production reached a historic high of 13.4 million barrels per day. Lower gasoline demand, increasing supply and stable oil prices could lead to falling pump prices.
The national average price for a gallon of gasoline today is $3.44, nine cents less than a month ago and 40 cents less than a year ago.
Dynamics of the national oil market
At the end of the official trading session on Wednesday, the WTI price rose by $2.03 to settle at $75.23 per barrel. The EIA reports that crude oil inventories fell by 3.7 million barrels compared to the previous week. At 429.3 million barrels, US crude oil inventories are about 6% below the five-year average for this time of year.
Tennessee Regional Awards
- Most expensive Metro Markets – Jackson ($3.09), Nashville ($3.04), Memphis ($3.04)
- Cheapest Metro Markets – Clarksville ($2.89), Chattanooga ($2.90), Morristown ($2.97)
Average gas prices in Tennessee
(Price per gallon of regular unleaded gasoline)
 |
Monday | Sunday | A week ago | A month ago | A year ago |
| Tennessee | 3,012 USD | 3,014 USD | 3,078 USD | 3,127 USD | 3,438 USD |
| Chattanooga | 2,905 USD | 2,903 USD | 3,021 USD | 3,085 USD | 3,392 USD |
| Knoxville | 2,971 USD | 2,974 € | 3,001 USD | 3,060 USD | 3,363 USD |
| Memphis | 3,048 USD | 3,040 USD | 3,058 USD | 3,110 USD | 3,476 USD |
| Nashville | 3,048 USD | 3,050 USD | 3,161 USD | 3,176 USD | $3,488 |
| Click here to view current average petrol prices | |||||
About AAA – The Auto Club Group
The Auto Club Group (ACG) is the second largest AAA club in North America with more than 13 million members in 14 U.S. states and two U.S. territories. ACG and its subsidiaries provide members with roadside assistance, insurance products, banking and financial services, travel offers and more.
ACG is part of the national AAA federation with over 64 million members in the United States and Canada. The AAA’s mission is to protect and promote freedom of mobility and to improve traffic safety.
For more information, visit the AAA Mobile App, AAA.com, or Facebook, Twitter and LinkedIn.
