In Tennessee, gas prices have seen an increase of seven cents over the past week, resulting in an average cost of $2.68 per gallon for regular unleaded fuel. This figure is three cents lower than it was a month ago and just one cent less than the same time last year, positioning Tennessee as the sixth least expensive state for gasoline in the country. As the Thanksgiving holiday approaches, AAA has noted that current prices mirror those from last year’s festivities, which also averaged $2.68 per gallon.
This year, it is anticipated that over 1.8 million residents of Tennessee will hit the roads for Thanksgiving, making up a staggering 96% of all holiday travelers. In light of this surge in travel, AAA advises motorists to refuel the night before their journeys and to check their vehicle’s battery and tire pressure. This recommendation comes in response to the nearly 600,000 roadside assistance calls made nationwide last year due to issues such as dead batteries, flat tires, and empty fuel tanks.
On a national scale, the average price for a gallon of regular gasoline has remained stable at $3.07, which is unchanged from the previous year. Demand for gasoline saw a slight uptick last week, while the total domestic supply has decreased to 205.1 million barrels. In the commodities market, West Texas Intermediate crude oil settled at $58.49 per barrel after experiencing a decline of $2.55. Additionally, U.S. crude inventories are currently about 4% lower than the five-year average.
When examining gas prices across various metropolitan areas in Tennessee, there is a noticeable range. For instance, Morristown, Kingsport, and Clarksville report averages of $2.62 per gallon, while Nashville sees higher prices at $2.75. Other notable metro averages include Jackson at $2.71, Memphis at $2.69, Chattanooga at $2.63, and Knoxville at $2.69.