Tennessee Gas Prices Drop Another 18 Cents – Clarksville Online

Tennessee is the 7th cheapest market in the country

Nashville, TN – The downward trend at the gas pump continues as Tennessee heads for its fifth straight week of declines. Gasoline prices fell, on average, 18 cents from last week – the biggest weekly drop so far this year.

Tennessee’s average gas price is now $4.10, 50 cents lower than a month ago and $1.22 higher than a year ago.




“Tennessees are now seeing the cheapest prices at the pump in 10 weeks and it’s likely prices will drop further this week,” said Megan Cooper, spokesperson for AAA – The Auto Club Group.

“While the oil market still remains volatile, significant declines in crude oil prices over the past few weeks along with a sharp decline in domestic demand for gasoline are paving the way for cheaper prices at the gas pump. “, said Cooper.

Fast facts

  • 41% of gas stations in Tennessee have prices below $4.00
  • The lowest 10% pump price is $3.74 for regular unleaded.
  • The top 10% pump price is $4.52 for regular unleaded.
  • Tennessee is the 7th cheapest market in the country

National gas prices

The national average for a gallon of gasoline fell 15 cents from last week to $4.52. The steady decline is due to lower domestic demand for gasoline at the pump and a much lower world oil price. The price per barrel of oil is around $90, compared to around $110 two weeks ago.

According to new data from the Energy Information Administration (EIA), gas demand fell from 9.41 million bpd to 8.06 million bpd last week, while total domestic gas inventories increased by 5.8 million bbl. Lower demand and lower oil prices have helped to lower prices at the pump. As long as this supply and demand dynamic continues, drivers will likely continue to see lower prices at the pumps.

The current national average of $4.52 is 46 cents lower than a month ago and $1.36 higher than a year ago.


National oil market dynamics

At the close of Friday’s official trading session, WTI was up $1.81 to settle at $97.57. Crude prices edged higher over the weekend as the market expects rough supply to remain tight through the summer.

The tight supply is driven by the potential for slower economic growth due to rising interest rates and inflation. Lower demand for rough, due to reduced economic activity, could cause prices to follow suit. For this week, crude prices could rise if the market continues to believe that supply will remain tight.

In addition, the EIA reported that total national crude inventories increased by 3.3 million barrels to 427.1 million barrels last week, nearly 11 million barrels below the storage level. of last year.

Drivers can find current gas prices along their route using the AAA TripTik trip planner.

Tennessee Regional Awards

  • Very expensive Metropolitan Markets – Knoxville ($4.29), Morristown ($4.24), Memphis ($4.20)
  • The cheapest Metropolitan Markets – Cleveland ($3.89), Chattanooga ($3.99), Clarksville ($3.99)


Tennessee Gas Price Averages

(Price per gallon of regular unleaded gasoline)

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Monday

Sunday

A week ago

A month ago

One year ago

Tennessee

$4.109

$4.127

$4.289

$4.609

2.886

Chattanooga

$3.990

$4.006

$4.158

$4.536

$2.817

Knoxville

$4.292

$4.308

$4,440

$4.592

$2.886

Memphis

$4.202

$4.224

$4.392

$4.628

$2.943

Nashville

$4.083

$4.101

$4.291

$4,641

$2.891

Click here to see current gasoline price averages


About AAA – The Auto Club Group

Groupe Auto Club (ACG) is the second largest AAA club in North America with over 13 million members in 14 US states, the province of Quebec and two US territories.

ACG and its affiliates provide members with roadside assistance, insurance products, banking and financial services, travel offers, and more. ACG belongs to the national AAA federation with more than 62 million members in the United States and Canada. AAA’s mission is to protect and advance freedom of mobility and improve road safety.

For more information, download the AAA Mobile app, visit AAA.com, and follow us on Facebook, Twitter, and LinkedIn.