Gas prices in Tennessee have experienced a decrease of six cents over the past week, positioning the state as the ninth least expensive market for gasoline in the United States. The current statewide average stands at $2.44 per gallon, which reflects a decline of 15 cents compared to one month ago and a notable reduction of 29 cents from the same period last year. According to AAA, this drop in prices can be attributed to a combination of lower seasonal demand and a robust fuel supply, with expectations for stability in pricing in the near future.
On a national scale, the average price for regular gasoline has reached $2.79, marking the lowest point since March 2021. Recent data from the Energy Information Administration indicates that gasoline demand saw a decrease last week, while domestic supply experienced an uptick, contributing to the overall trend of lower prices.
In the latest trading session, oil prices also saw a decline, with West Texas Intermediate crude settling at $55.99 per barrel. Within Tennessee, the most expensive metropolitan areas for gasoline are Nashville, where prices average $2.52, followed closely by Jackson at $2.51, and Memphis at $2.45. Conversely, the least expensive markets can be found in Morristown at $2.34, Knoxville at $2.36, and Chattanooga at $2.39.
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