TN Gas Prices Fall Four Cents

Gas prices across the state fell four cents, on average, over last week. The Tennessee Gas Price average is now $2.76 which is three cents more expensive than one month ago but nine cents less than one year ago.  

"For the last three weeks, Tennessee gas prices have stuck to a trend of either rising or falling by four cents each week," said Megan Cooper, spokeswoman, AAA - The Auto Club Group. "A handful of states saw significant movement in their state gas price averages over last week. However, many states, like Tennessee, saw more minimal changes in pump pricing. Tennessee is starting the week as the fifth least expensive market in the nation."

National Gas Prices

Amid the threat of tariffs, the national average for a gallon of gas ticked up four cents from last week to $3.13. 

According to new data from the Energy Information Administration (EIA), gasoline demand increased from 8.30 million b/d last week to 8.32. Total domestic gasoline supply rose from 248.9 million barrels to 251.1, while gasoline production decreased last week, averaging 9.2 million barrels per day. 

Today’s national average for a gallon of gas is $3.13, seven cents more than a month ago but five cents less than a year ago.  

National Oil Market Dynamics

At the close of Wednesday’s formal trading session, WTI dropped $1.67 to settle at $71.03 a barrel. The EIA reports that crude oil inventories increased by 8.7 million barrels from the previous week. At 423.8 million barrels, U.S. crude oil inventories are about 5% below the five-year average for this time of year. 

Tennessee Regional Prices 

• Most expensivemetro markets - Johnson City ($2.86), Jackson ($2.82), Kingsport ($2.81)
• Least expensivemetro markets - Chattanooga ($2.66), Clarksville ($2.67), Cleveland ($2.69) 

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 across 14 U.S. states and two U.S. territories. ACG and its affiliates provide members with roadside assistance, insurance products, banking and financial services, travel offerings and more. ACG belongs to the national AAA federation with more than 64 million members in the United States and Canada. AAA’s mission is to protect and advance freedom of mobility and improve traffic safety. For more information, get the AAA Mobile app, visit AAA.com, and follow us on Facebook, Twitter and LinkedIn.