In Tennessee, motorists are currently facing an average cost of $2.74 for a gallon of regular unleaded gasoline this week. This figure reflects a decrease of three cents compared to the previous week and a two-cent drop from the price recorded last month. Notably, this price is nearly 30 cents lower than what drivers were paying at the same time last year.
For over a month now, gas prices throughout the state have consistently hovered around the $2.70 mark, with only minor fluctuations observed on a weekly basis. On a national scale, the average price for gasoline stands at $3.13, remaining stable since last week.
In terms of crude oil, it is currently trading at $62.65 per barrel. While U.S. inventories have seen a slight increase, they still fall short of the five-year seasonal average.
To provide a clearer picture of local gas prices, here are some averages from various cities: Chattanooga reports an average of $2.67, Knoxville at $2.72, while both Memphis and Nashville are seeing prices at $2.79.
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