Tennessee is 7th least expensive market in the nation

27 June 2022

NASHVILLE, Tenn., (June 27, 2022) —  Gas prices across Tennessee fell for the second week in a row - providing a bit of good news for the 945,000 Tennesseans expected to hit the road later this week for the Independence Day holiday. Today’s state average is nearly nine cents less expensive than one week ago. The Tennessee Gas Price average is now $4.51 which is 24 cents more expensive than one month ago and $1.67 more than one year ago.  

"We’re headed into the holiday weekend on a two-week streak of declining gas prices, which is great news for road trippers, " said Megan Cooper, spokeswoman for AAA - The Auto Club Group. "Despite the recent declines, gas prices will still be the highest on record for the holiday."

 

Tennessee Independence Day Historical Gas Prices

Price per gallon of regular unleaded gasoline

2021

$2.88

2020

$1.94

2019

$2.46

2018

$2.61

Previous highest recorded average: 2008

$3.93

 

Click here to view the Independence Day Travel Forecast for Tennessee. 

Drivers should expect busy roads during the holiday weekendparticularly during Thursday and Friday afternoons, as commuters leave work early and mix with holiday travelers. Drivers in major U.S. metros could experience double the travel times compared to a normal trip. AAA advises road travelers to leave early and identify alternate routes in case you encounter congestion. 

AAA also urges drivers to ensure their vehicle is road trip ready. AAA expects to receive 446,000 calls for roadside assistance during the holiday weekend. Getting a full vehicle inspection could help ensure you are not one of them. Visit AAA.com/AutoRepair to find a certified mechanic. 

Quick Facts

  • 56% of Tennessee gas stations have prices below $4.50
  • The lowest 10% of pump prices are $4.25 for regular unleaded 
  • The highest 10% of pump prices are $4.80 for regular unleaded
  • Tennessee is the 7th least expensive market in the nation

National Gas Prices

A drop in the global price of oil helped the national average for a gallon of gas to fall for a second week to land at $4.89. Economic fears of a potential global recession leading to less demand for oil dropped the price to around $107 per barrel, down from $110 last week.

Please note that a vital gas price indicator was unavailable to AAA for this week’s report. The U.S. Energy Information Administration (EIA) said it was delaying the release of gasoline demand data because of "systems issues." Demand is a sign of whether motorists are fueling up or not, which in turn may be reflected in higher or lower pump prices.

Today’s national average of $4.89 is nine cents less than a week ago, 30 cents more than a month ago, and $1.80 more than a year ago.

National Oil Market Dynamics

At the close of Friday’s formal trading session, WTI increased by $3.35 to settle at $107.62. Although crude prices strengthened at the end of the week due to positive market sentiment after the stock market rallied, crude prices dropped earlier in the week amid broad market concern regarding the potential for economic growth to slow or stall due to rising interest rates and inflation. A lower economic growth rate than expected could cause crude demand to decline, leading prices to follow suit. For this week, crude prices could decline if EIA’s reporting shows a large increase in total domestic stocks.

Drivers can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad, and Android. The app can also map a route, find discounts, book a hotel, and access AAA roadside assistance. Learn more at AAA.com/mobile.

Tennessee Regional Prices 

  • Most expensive metro markets - Jackson ($4.59), Morristown ($4.57), Memphis ($4.56)
  • Least expensive metro markets - Cleveland ($4.38), Chattanooga ($4.40), Clarksville ($4.47) 


Tennessee Gas Price Averages 

(Price per gallon of regular unleaded gasoline) 

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Monday

Sunday

Week Ago

Month Ago

One Year Ago

Tennessee

$4.511

$4.521

$4.596

$4.271

$2.842

Chattanooga

$4.404

$4.422

$4.513

$4.217

$2.736

Knoxville

$4.565

$4.564

$4.586

$4.244

$2.869

Memphis

$4.566

$4.568

$4.620

$4.302

$2.907

Nashville

$4.520

$4.532

$4.626

$4.295

$2.842

Click here to view current gasoline price averages

 

About AAA - The Auto Club Group

The Auto Club Group (ACG) is the second largest AAA club in North America with more than 13 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.