Gas prices drop in Tennessee for first time in five weeks
Average price per gallon still 20 cents more than one month ago, 6 cents more than last year
NASHVILLE, Tenn. (WSMV) – For the first time in five weeks, the Tennessee gas price average declined nine cents on average in the past week, according to data from AAA – The Auto Club Group.
The Tennessee Gas Price average is now $3.19, which is 20 cents more expensive than one month ago and nearly six cents more than one year ago.
“We’re starting to see pump prices move lower thanks to a sharp drop in the oil and gasoline futures markets,” Megan Cooper, spokeswoman for AAA – The Auto Club Group. “Right now, a combination of domestic and global factors are working together to place downward pressure on pump prices. However, keep in mind that the market still remains volatile. This week, barring any big changes in the crude oil market, it’s likely Tennesseans will continue to see pump prices fluctuate lower.”
In Tennessee, 11% of gas stations have prices below $3.00. The lowest 10% of pump prices are $2.95 for regular unleaded while the highest 10% of pump prices are $3.50 for regular unleaded.
Tennessee is the 10th least expensive market in the nation, according to the data.
The national average for a gallon of gas barely budged over the past week, drifting lower by three cents to $3.47. Today’s national average is 18 cents more than a month ago and four cents more than a year ago.
The most expensive metro markets in Tennessee include Memphis ($3.26), Nashville ($3.22) and Jackson ($3.20). The least expensive metro markets include Cleveland ($3.14), Clarksville ($3.16) and Kingsport ($3.16).