In Tennessee, gas prices have experienced a modest decline, dropping an average of four cents over the past week. This decrease has brought the statewide average down to $2.60 per gallon. According to AAA, the average price recorded on Thanksgiving Day was $2.63, marking the lowest rate for the holiday since 2020 and reflecting a five-cent reduction compared to the previous year. The combination of lower crude oil prices and a seasonal dip in gasoline demand has contributed to this downward trend, which is expected to persist as the holiday season progresses.
On a national scale, the average price for regular gasoline has also seen a significant decrease, falling to $3.00 as of Sunday. This marks the first time in four years that the national average has reached this level. AAA attributes this decline to the ongoing low crude oil prices coupled with a lack of robust demand for gasoline.
Within Tennessee, the city of Jackson reports the highest metropolitan average at $2.66 per gallon, closely followed by Nashville at $2.65 and Memphis at $2.64. In contrast, the lowest gas prices can be found in Chattanooga and Clarksville, both at $2.51, with Morristown trailing slightly behind at $2.55.