Nashville, TN – Tennessee Gas Prices are slightly lower than a week ago. Sunday’s state average was $2.71 per gallon. That’s 5 cents less than last week and the lowest daily average price since April 21st.
“Gas prices crept lower last week, thanks to continued weakness in the oil market,” said Stephanie Milani, Director of AAA Public Affairs for The Auto Club Group in Tennessee. “For now, these low gas prices should linger through the early part of the summer, unless there’s a shift in oil prices.”
The oil market has been caught in a tug-of-war lately. Production is hitting record highs, but demand is starting to falter. In March, U.S. crude output surged to an all-time high of 13.488 million barrels per day. On the flip side, total petroleum consumption dropped to 19.95 million barrels per day, the lowest in a year.
Despite pumping more oil than ever, energy companies are actually pulling back on drilling, with rig counts declining for five straight weeks. That signals a shift toward financial caution. This delicate balance between soaring supply and cooling demand could set the tone for oil prices as summer kicks in.
Tennessee Regional Prices
Most expensive metro markets – Jackson ($2.75), Johnson City ($2.75), Nashville ($2.75)
Least expensive metro markets – Chattanooga ($2.64), Morristown ($2.65), Clarksville-Hopkinsville ($2.65)
Tennessee Gas Price Averages
(Price per gallon of regular unleaded gasoline)
Monday
Sunday
Week Ago
Month Ago
One Year Ago
National
$3.143
$3.150
$3.181
$3.186
$3.544
Tennessee
$2.707
$2.713
$2.758
$2.746
$3.101
Chattanooga
$2.643
$2.651
$2.747
$2.707
$2.926
Knoxville
$2.684
$2.693
$2.704
$2.719
$3.114
Memphis
$2.738
$2.738
$2.754
$2.757
$3.136
Nashville
$2.745
$2.754
$2.836
$2.805
$3.118
Click here to view current gasoline price averages
Gas Price Survey Methodology
AAA updates fuel price averages daily at www.GasPrices.AAA.com. Every day up to 130,000 stations are surveyed based on credit card swipes and direct feeds in cooperation with the Oil Price Information Service (OPIS) and Wright Express for unmatched statistical reliability.
All average retail prices in this report are for a gallon of regular, unleaded gasoline.
The Auto Club Group (ACG) is the second largest AAA club in North America with more than 13 million members across 14 U.S. states and two U.S. territories. ACG and its affiliates provide members with roadside assistance, insurance products, banking and financial services, travel offerings and more.
ACG belongs to the national AAA federation with more than 65 million members in the United States and Canada. AAA’s mission is to protect and advance freedom of mobility and improve traffic safety.