Tennesseans once again saw fluctuating pump prices over last week. Today’s state gas price average is nearly two cents more expensive than last Monday’s. The Tennessee Gas Price average is now $3.30 which is nine cents less expensive than one month ago and 16 cents more than one year ago.
The average cost for a gallon of gasoline in Coffee County is also $3.30 – an 18 cent jump compared to last week’s average.
“Fluctuating gas prices early last week gave way to gradually declining pump prices at the end of the week,” said Megan Cooper, spokeswoman, AAA – The Auto Club Group. “Even though we are starting the week two cents above where we were last week, we are on the fourth day of a decline in our state gas price average. This week, Tennesseans can likely expect pump prices to ebb and flow again, but the good news is that we aren’t expecting any big swings at the pump for now, assuming market conditions hold steady.”
Quick Facts
- 36% of Tennessee gas stations have prices below $3.25
- The lowest 10% of pump prices are $3.06 for regular unleaded
- The highest 10% of pump prices are $3.62 for regular unleaded
- Tennessee is the 8th least expensive market in the nation
National Gas Prices
The national average for a gallon of gasoline slid three cents in the past week to $3.77. The main reason is the global cost for oil, gasoline’s main ingredient, has been stuck in a narrow price range of $85 to $92 a barrel for several weeks.
According to data from the Energy Information Administration (EIA), gas demand increased from 8.66 million b/d to 9.01 million b/d last week. Total domestic gasoline stocks decreased by nearly 1 million bbl to 205.7 million bbl. Tight supply and robust gasoline demand would typically push pump prices higher, but fluctuating oil prices have limited cost increases.
Today’s national average of $3.77 is 13 cents less than a month ago and 36 cents more than a year ago
