Tennessee’s Average 22 Cents Below Year-Ago Level

03 June 2019

NASHVILLE, Tenn., (June 3, 2019) — Tennessee’s state average gas price  is $2.48 per gallon for regular unleaded making it the seventh lowest average in the nation. Today’s average is four cents less than the average a week ago and 13 cents less than one month ago and 22 cents less than one year ago.

The national gas price average today is $2.81, two cents less than last week’s average, eight cent less than one month ago and 13 cents less than this time last year. Today, seven states – including Tennessee—have state averages less than $2.50.  

“Gas prices have been trending lower now for the past month and there are no signs of pump prices changing gears toward more expensive for the summer season,” said Jeanette Casselano, AAA spokesperson. “One major indicator supporting this forecast is the price of crude oil which last week dropped by $6 to $53/bbl, which is one of the lowest prices of the year.”

Crude Oil

At the close of Friday’s formal trading session on the NYMEX, WTI fell by $3.09 to $53.50. Crude prices suffered a major loss last week—the largest in six months—after new trade tensions emerged between the U.S. and Mexico, a key U.S. trade partner and a major supplier of crude oil. Threats from the Trump Administration to increase tariffs on all products exported from Mexico to the U.S, including crude compound concerns about global economic growth, already at risk due to the U.S.-China trade war. That dispute has prompted market observers to worry about a recession, which could suppress global crude demand later this year. Moving into this week, growing global trade war fears will likely push crude prices down.

Find Tennessee Gas Prices

State and metro averages can be found here

                                                           
                                                           
CURRENT AND PAST PRICE AVERAGES

                                                                                     Regular Unleaded Gasoline

Monday Sunday Week Ago Month Ago One Year Ago 2018 High Record High
National $2.813 $2.816 $2.832 $2.865 $2.947 $2.97 (5/26/2018) $4.11   (7/17/2008)
Tennessee $2.488 $2.495 $2.524 $2.611 $2.703 $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.

About The Auto Club Group

The Auto Club Group (ACG) is the second largest AAA club in North America. ACG and its affiliates provide membership, insurance, financial services and travel offerings to over 9.6 million members across eleven states and two U.S. territories including Florida, Georgia, Iowa, Michigan, Nebraska, North Dakota, Tennessee, Wisconsin, Puerto Rico and the U.S. Virgin Islands; most of Illinois and Minnesota; and a portion of Indiana. ACG belongs to the national AAA federation with more than 59 million members in the United States and Canada and whose mission includes protecting and advancing freedom of mobility and improving traffic safety. Motorists can map a route, identify gas prices, find discounts, book a hotel, and access AAA roadside assistance with the AAA Mobile app for iPhone, iPad and Android. Learn more at AAA.com/mobile. Visit AAA on the Internet at AAA.com.