According to AAA the average price for a gallon of regular unleaded gasoline in Coffee County is $3.14. That price is 4 cents below the state average and 43 cents below the national average, which is $3.57.
Tennesseans that took a holiday road trip over the weekend were greeted with pump prices over a dollar cheaper than last year’s holiday. Gas prices, on average, only moved three cents higher over last week .The Tennessee gas price average is now $3.18 which is four cents less expensive than one month ago and $1.09 less than one year ago.
“After fluctuating in the weeks leading up to Memorial Day, pump prices ultimately landed at $1.09 per gallon cheaper than last year’s holiday,” said Megan Cooper, spokeswoman, AAA – The Auto Club Group. “As we head into the summer driving season, it’s very likely this fluctuation will stick around. If overall market conditions remain similar to what we’re seeing now, it’s possible that the fluctuations we’ll see could be minimal.”
- 12% of Tennessee gas stations have prices below $3.00
- The lowest 10% of pump prices are $2.94 for regular unleaded
- The highest 10% of pump prices are $3.51 for regular unleaded
- Tennessee is the 7th least expensive market in the nation
National Gas Prices
The seasonal surge in gasoline demand leading into the long holiday weekend resulted in the national average for a gallon of gas rising three cents since last week to $3.57. AAA forecasted that Memorial Day road trips will be up 6% over last year, with more than 37 million Americans driving to their destinations.
According to new data from the Energy Information Administration (EIA), gas demand increased from 8.91 to 9.43 million b/d last week. Rising demand has helped to boost pump prices. Meanwhile, total domestic gasoline stocks decreased by 2 million bbl to 216.3 million bbl. If gas demand grows amid tighter supplies, drivers will likely see pump prices rise.
Today’s national average of $3.57 is four cents less than a month ago and $1.04 less than a year ago.