Gas prices drop 6 cents in past week in Tennessee

pumping gas
pumping gas(DC Bureau)
Published: Oct. 24, 2022 at 12:00 PM CDT
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NASHVILLE, Tenn. (WSMV) - Gas prices across Tennessee fell for the second week in a row, dropping six cents, on average, over the last week, according to data released by AAA – The Auto Club Group.

The Tennessee Gas Price Average is now $3.31 which is nearly 13 cents more expensive than one month ago and 15 cents more than one year ago.

“Relatively steady oil prices alongside continued lingering fears of an economic recession are helping to keep downward pressure on pump prices,” Megan Cooper, spokeswoman, AAA – The Auto Club Group, said in a news release. “The downward trend is likely to continue this week, making pump prices a little less scary as we head into Halloween.”

In Tennessee, 37% of Tennessee gas stations have prices below $3.25. The lowest 10% of pump prices are $3.06 for regular unleaded while the highest 10% of pump prices are $3.67 for regular unleaded.

According to AAA, Tennessee is the sixth least expensive market in the nation.

The national average pump price fell nine cents over the past week to $3.79. It has dropped daily since Oct. 11, primarily due to lower oil prices and fewer drivers than usual fueling up. Monday’s national average is nine cents higher than a month ago and 41 cents more than a year ago.

The most expensive metro markets in Tennessee include Knoxville ($3.36), Memphis ($3.42) and Jackson ($3.48). The least expensive metro markets include Cleveland ($3.22), Chattanooga ($3.23) and Clarksville ($3.25.)