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Tennessee gas prices down two cents over past week

Tennessee gas prices saw a bit of fluctuation over last week, however, we’re still starting the week two cents cheaper than last week. The Tennessee Gas Price average is now $2.72 which is four cents less expensive than one month ago and 25 cents less than one year ago.  

“We’re still seeing some fluctuation in gas prices across the state, but thankfully, gas prices are continuing to stay cheaper than what we were seeing at this time last year,” said Megan Cooper, spokeswoman for AAA – The Auto Club Group. “This week, if crude oil prices continue to drop and gasoline demand stays low it’s likely we’ll continue to see the prices at the pump trend less expensive.” 

The average price per gallon in Coffee County sits at $2.71 per gallon – right at the state average and .38 cents below the national average of $3.09.

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Quick Facts

  • 65% of Tennessee gas stations have prices below $2.75 
  • The lowest 10% of pump prices are $2.49 for regular unleaded 
  • The highest 10% of pump prices are $3.04 for regular unleaded
  • Tennessee is the 9th least expensive market in the nation

National Gas Prices

The national average for a gallon of gas remains unchanged since last week and still sits at  $3.09.  The primary reason appears to be rather humdrum numbers for the cost of oil and gasoline demand.

According to new data from the Energy Information Administration (EIA), gas demand increased from 7.95 to 8.33 million b/d last week. Meanwhile, total domestic gasoline stocks increased significantly by 8 million bbl to 245 million bbl. The slight uptick in demand has limited pump price drops, causing the national average to stagnate. However, if oil prices continue to drop, drivers could continue to see pump prices trickle lower.

Today’s national average of $3.07 is the same as one month ago and 23 cents less than a year ago.

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