According to AAA the average price for a gallon of regular unleaded gasoline in Coffee County is $3.12. That price is 2 cents above the state average and 42 cents below the national average, which is $3.54.
Tennessee gas prices are trending slightly higher this week, increasing three cents, on average. The Tennessee Gas Price average is now $3.10 which is five cents less expensive than one month ago and $1.20 less than one year ago.
“Gas prices are trending higher after the Fourth of July holiday, likely due to higher demand alongside decreasing supply,” said Megan Cooper, spokeswoman for AAA – The Auto Club Group. “The good news is that oil prices still remain low. Unless that changes this week, the upward pressure on gas prices could possibly ease fairly soon.”
- 34% of Tennessee gas stations have prices below $3.00
- The lowest 10% of pump prices are $2.84 for regular unleaded
- The highest 10% of pump prices are $3.46 for regular unleaded
- Tennessee is the 5th least expensive market in the nation
National Gas Prices
Pump prices barely budged over the past week, despite the expected demand surge due to the July 4th holiday. AAA predicted that more than 43 million people would hit the road to celebrate the nation’s birthday. Despite the record number, the national average for a gallon of gas has only moved a penny higher since last week to $3.54.
According to new data from the Energy Information Administration (EIA), gas demand increased slightly from 9.31 to 9.6 million b/d last week. Meanwhile, total domestic gasoline stocks decreased by 2.5 million bbl to 219.5 million bbl. Rising gas demand amid decreasing supply will likely cause gas prices to fluctuate in the short term.
Today’s national average of $3.54 is four cents less than a month ago and $1.14 less than a year ago.