In Tennessee, gas prices experienced a minor decline of one cent last week, stabilizing at an average of $2.61 per gallon. This figure reflects a decrease of 10 cents compared to the previous month and is 14 cents lower than the same period last year. As a result, Tennessee ranks as the fourth least expensive state for gasoline in the country, as reported by AAA.
On a national scale, the average price for regular gasoline saw an increase of four cents, reaching $3.07 per gallon. This uptick can be attributed in part to ongoing refinery maintenance activities in California. Meanwhile, gasoline demand experienced a slight reduction last week, dropping to 8.87 million barrels per day, while production levels remained robust at an average of 9.8 million barrels per day.
Within Tennessee, the metropolitan areas with the highest gas prices include Jackson at $2.66, Nashville at $2.65, and Memphis at $2.64. Conversely, the regions with the lowest prices are Chattanooga at $2.51, Clarksville at $2.52, and Cleveland at $2.54.