Tennessee gas prices are continuing their downward trend this week, falling 13 cents over last week. The Tennessee Gas Price average is now $2.84 which is nearly 47 cents less expensive than one month ago and 18 cents less than one year ago.
The average cost for a gallon of gasoline in Coffee County is $2.73 – a 17 cent drop compared to last week’s average of $2.90.
“Tennessee gas prices have fallen nearly 50 cents in the last month, and with continued downward pressure on pump prices, it’s likely this trend will continue as we get closer to the holidays,” said Megan Cooper, spokeswoman for AAA – The Auto Club Group. “This year, holiday road trippers are receiving the early gift of plunging prices at the pump, which makes that road trip a little less expensive than anticipated.”
- 86% of Tennessee gas stations have prices below $3.00
- The lowest 10% of pump prices are $2.49 for regular unleaded
- The highest 10% of pump prices are $3.22 for regular unleaded
- Tennessee is the 7th least expensive market in the nation
National Gas Prices
The national average pump price plunged 14 cents since last week to $3.26, six cents less than a year ago. There are now approximately 34 states with averages lower than last year.
According to data from the Energy Information Administration (EIA), gas demand remained low at 8.36 million b/d last week, approximately 605,000 b/d lower than a year ago. Meanwhile, total domestic gasoline stocks rose significantly by 5.3 million bbl to 219.1 million bbl. Increasing supply and lower gasoline demand will push pump prices lower.
Today’s national average of $3.26 is 52 cents less than a month ago and six cents less than a year ago.