Tennessee Ranks #10 In Least Expensive Average Gas Price In The Nation

30 September 2019

NASHVILLE, Tenn., (September 30, 2019) — Tennessee Gas Prices is $2.37 per gallon for regular unleaded, which is 3-cents less than last week’s average, 9-cents more than a month ago and 26-cents less than one year ago. Today’s national average is $2.65, which is a 2-cents less than last week, 7-cents more than a month ago and 23-cents cheaper than a year ago. Two weeks after attacks on major Saudi Arabian oil facilities, the majority of Americans are starting to see signs of gas prices trending cheaper. While the national average may have only decreased by a penny on the week, 10 states saw pump prices decline by a nickel or more.

“Crude oil prices have dropped close to where they were right before the drone attacks on the Saudi oil facilities,” said Jeanette Casselano, AAA spokesperson. “This is helping to push gas prices cheaper in most of the country. Americans can expect this trend to continue, except for those filling-up on the West Coast, where refinery disruptions are causing spikes at the pump.”

Crude Oil 

At the close of Friday’s formal trading session on the NYMEX, WTI decreased by 50 cents to settle at $55.91. Oil prices were mostly mixed last week after EIA’s weekly report revealed that total domestic crude inventories grew by 2.4 million bbl, bringing the total 419.5 million bbl. The current level is 23.5 million bbl higher than where it was at this time last year. The higher level has kept prices in check as concerns that global crude demand may be impacted by the ongoing trade war between the U.S. and China.

Additionally, crude prices have also been shaken as a result of market concerns that global supply could be reduced due to escalating tension in the Middle East. Crude prices increased moderately last week after the U.S. Department of Defense said it would deploy radar systems, Patriot missiles and about two hundred personnel to bolster Saudi Arabia’s defenses after an attack on two of its oil facilities earlier this month. If EIA’s report shows another crude inventory build, crude prices could end the week down. However, any escalation in the U.S.-China trade war or tensions in the Middle East could see them spike.

                                                           
                                                            CURRENT AND PAST PRICE AVERAGES

                                                                      Regular Unleaded Gasoline

Monday Sunday Week Ago Month Ago One Year Ago 2018 High Record High
National $2.654 $2.653 $2.667 $2.580 $2.876 $2.97 (5/26/2018) $4.11   (7/17/2008)
Tennessee $2.371 $2.376 $2.395 $2.275 $2.632 $2.73 (5/27/2018) $4.12   (9/15/2008)
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.