Tennessee gas prices hold steady for first time in 10 weeks
NASHVILLE, Tenn. (WSMV) - For the first time in over 10 weeks, the Tennessee gas price average held steady week-over-week with today’s state average the same as one week ago, according to data from AAA – The Auto Club Group.
The Tennessee Gas Price average is now $3.44 which is 39 cents less expensive than one month ago and 59 cents more than one year ago.
Tennessee’s 72-day streak of gas price declines began in mid-June when the state average fell from its all-time high of $4.64 per gallon down to $3.43 last Wednesday.
“Gas prices are fluctuating in response to recent movements in crude oil prices, which have risen around 5% over the course of the past three weeks,” Megan Cooper, spokeswoman for AAA – The Auto Club Group, said in a news release. “Since this isn’t a significant oil price hike, it’s likely that gas price increases could be minimal, barring any additional gains in the fuel market this week. As we move into peak hurricane season, a major storm could also contribute to fluctuations in pump prices, especially of it threatens refineries along the Texas, Louisiana or Mississippi coast lines.”
Tennessee has the seventh least expensive gas market in the national, according to AAA data. Across the state, 80% of gas stations have prices below $3.50, according to AAA data. The lowest 10% of pump prices are $3.22 for regular unleaded while the highest 10% of pump prices are $3.81 for regular unleaded.
The most expensive metro markets in the state include Morristown ($3.57), Memphis ($3.53) and Knoxville ($3.51). The cheapest gas can be found in the Clarksville ($3.31), Chattanooga ($3.34) and Johnson City ($3.38) markets. In Nashville, the average gas price is $3.43.
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