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Tennessee Gas Prices Drop 15 Cents – Clarksville Online

By August 1, 2022Sports events

Nashville, TN – Gasoline prices fell, on average, by 68 cents in July. As Tennessee begins its seventh straight week of falling gas prices, the state’s average gas price is now less than a dollar more expensive than a year ago.

The Tennessee Average Gas Price is now $3.78, 68 cents lower than a month ago and 88 cents higher than a year ago.

“After the state average fell below $4.00 per gallon last week, this week brings the good news that all major metropolitan areas in the state now also have averages below 4.00. $ per gallon,” said Megan Cooper, spokesperson for AAA – The Auto Club Group.

“Oil and gasoline futures made notable gains last week, which could potentially cause gasoline prices to fall and stabilize, but it’s too early to tell. For now, Tennesseans can breathe a sigh of relief as they head into the seventh straight week of lower gas prices,” Cooper said.

Fast facts

  • 90% of gas stations in Tennessee have prices below $4.00 per gallon
  • All major metropolitan areas in the state have metropolitan averages below $4.00 per gallon
  • The lowest 10% pump price is $3.40 for regular unleaded.
  • The top 10% pump price is $4.19 for regular unleaded.
  • Tennessee is the 7th cheapest market in the country

National gas prices

The national average for a gallon of gasoline fell to $4.21, down 14 cents from last week. But a slight increase in gas demand as more people fill up could end the steady decline in daily prices at the pump.

According to new data from the Energy Information Administration (EIA), gas demand fell from 8.52 million bpd to 9.25 million bpd last week. Estimated throughput is 80,000 bpd lower than last year, but could slow the decline in pump prices if the trend continues. Additionally, total national gasoline inventories fell 3.3 million barrels to 225.1 million barrels, signaling that higher demand squeezed inventories last week.

New survey data of AAA finds that drivers are making significant changes to deal with high prices at the pump. Nearly two-thirds (64%) of American adults have changed their driving habits or lifestyle since March, with 23% having made “major changes”. The top three driver changes to offset high gas prices are to drive less, combine errands, and cut back on shopping or dining.

The current national average of $4.21 is 63 cents lower than a month ago and $1.04 higher than a year ago.

National oil market dynamics

At the close of Friday’s official trading session, WTI was up $2.20 to settle at $98.62. Crude prices rose last week as market concerns about weaker demand this summer eased after the EIA reported that total domestic crude inventories fell by 4.5 million. barrels to reach 422.1 million barrels last week, 13.5 million barrels below the storage level at the end of July 2021.

Additionally, crude prices rose after the market adjusted its supply expectations as the Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group also known as OPEC+, will announce most likely its production will remain unchanged for September when it meets via videoconference. August 3. For this week, amid an unlikely increase in OPEC+ supply, lingering supply concerns could drive up the cost of crude oil.

Drivers can find current gas prices along their route using the AAA TripTik Travel Planner.

Tennessee Regional Awards

  • Very expensive Metropolitan Markets – Knoxville ($3.99), Morristown ($3.99), Memphis ($3.89)
  • The cheapest metropolitan markets – Clarksville ($3.57), Cleveland ($3.63), Chattanooga ($3.67)

Tennessee Gas Price Averages

(Price per gallon of regular unleaded gasoline)




A week ago

A month ago

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Click here to see current gasoline price averages