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Tennessee Gas Prices Drop Six Cents – Clarksville Online

By October 24, 2022Sports events

Tennessee is the 6th cheapest market in the country

Nashville, TN – Gas prices in Tennessee fell for the second week in a row, losing six cents on average from last week. The Tennessee Average Gas Price is now $3.31, nearly 13 cents higher than a month ago and 15 cents higher than a year ago.

“Relatively stable oil prices along with continued fears of an economic recession are helping to keep downward pressure on pump prices,” said Megan Cooper, spokesperson, AAA – The Auto Club Group. “The downward trend should continue this week, making prices at the pumps a little less scary as we head into Halloween.”


Fast facts

  • 37% of gas stations in Tennessee have prices below $3.25
  • The lowest 10% pump price is $3.06 for regular unleaded.
  • The top 10% pump price is $3.67 for regular unleaded.
  • Tennessee is the 6th cheapest market in the country

National gas prices

The national average price at the pump has fallen nine cents over the past week to $3.79. It has fallen daily since October 11, mainly due to lower oil prices and fewer drivers than usual filling up.

According to recent data from the Energy Information Administration (EIA), gas demand increased slightly from 8.28 million bpd to 8.68 million bpd last week. Total domestic gasoline inventories fell slightly from 209.5 million barrels to 209.4 million barrels.

Although gasoline demand is up slightly, it is still nearly 1 million barrels lower than this date last year. If demand remains weak and oil prices do not rise, prices at the pump will likely continue to fall.

The current national average of $3.79 is nine cents higher than a month ago and 41 cents higher than a year ago.


National oil market dynamics

At the close of Friday’s official trading session, WTI was up 54 cents to settle at $85.05. Although crude prices rose after the EIA reported that the nation’s total commercial crude inventories fell by 1.7 million barrels to 437.4 million barrels last week, the price of oil fell. earlier in the week due to continued market concerns over crude demand as recession fears grew.

If the market remains concerned about the rate of economic growth this week, crude prices could decline.

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

Tennessee Regional Awards

  • Very expensive metropolitan markets – Jackson ($3.48), Memphis ($3.42), Knoxville ($3.36)
  • The cheapest metropolitan markets – Cleveland ($3.22), Chattanooga ($3.23), Clarksville ($3.25)

Tennessee Gas Price Averages

(Price per gallon of regular unleaded gasoline)

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Monday

Sunday

A week ago

A month ago

One year ago

Tennessee

$3,314

$3.321

$3.377

$3.189

$3.161

Chattanooga

$3.231

$3.244

$3,313

$3.100

$3.135

Knoxville

$3.360

$3.365

$3.385

$3.213

$3.172

Memphis

$3.425

$3.424

$3.456

$3.283

$3.154

Nashville

$3.278

$3.287

$3.381

$3.148

$3.186

Click here to see current gasoline price averages


About AAA – The Auto Club Group

Groupe Auto Club (ACG) is the second largest AAA club in North America with over 13 million members in 14 US states, the province of Quebec and two US territories.

ACG and its affiliates provide members with roadside assistance, insurance products, banking and financial services, travel deals and more. ACG belongs to the national AAA federation with more than 62 million members in the United States and Canada. AAA’s mission is to protect and advance freedom of mobility and improve road safety.

For more information, get the AAA mobile appvisit AAA.comand follow us on Facebook, Twitter and LinkedIn.