Tennessee remains the 9th least expensive market in the nation
NASHVILLE, Tenn., (August 9, 2021) — The Tennessee gas price average held steady over last week. The Tennessee Gas Price average is now $2.89 which is the same price as one month ago and 99 cents more than one year ago.
“We continue to see very robust gasoline demand for the peak summer driving season,” said Megan Cooper, spokeswoman, AAA - The Auto Club Group. “The latest demand rate was 2% higher than the same time period in 2019, while gasoline stocks are about 1% below."
National Gas Prices
Crude oil prices dropped below $70/bbl at the end of last week in reaction to concerns about the delta variant, growing COVID case numbers and the possibility of potential lockdowns. While crude is a little cheaper, gas prices are still positioned to remain high in August.
Today’s national average is $3.19. That is the most expensive gas price average of the year as well as $1.02 more than a year ago, a nickel more than a month ago and two cents more than a week ago. Pump prices fluctuated across the county last week with states seeing as much as a nine-cent jump to a seven-cent decrease. The variation in prices is partly attributed to the U.S. seeing an increase in demand and decrease in stocks, according to the Energy Information Administration (EIA).
August can be a busy month at the pump with school starting and others taking last minute summer trips. AAA offers these daily driving tips to help save on gas:
National Oil Market Dynamics
At the close of Friday’s formal trading session, WTI decreased by 81 cents to settle at $68.28. A stronger dollar and market concern about the impact of new coronavirus infections on crude demand pushed prices lower at the end of last week. Crude prices also declined after the EIA’s latest report showed that total domestic crude stocks increased by 3.6 million bbl to 439.2 million bbl. For this week, crude prices could decrease further if the market continues to worry that crude demand will decline as restrictions are imposed to halt transmission of COVID-19.
Tennessee Regional Prices
Tennessee Gas Price Averages
(Price per gallon of regular unleaded gasoline)
About AAA - The Auto Club Group
The Auto Club Group (ACG) is the second largest AAA club in North America with more than 14 million members across 14 U.S. states, the province of Quebec 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 62 million members in the United States and Canada. AAA’s mission is to protect and advance freedom of mobility and improve traffic safety. For more information, get the AAA Mobile app, visit AAA.com, and follow us on Facebook, Twitter and LinkedIn.