AAA: TN gas prices hold steady for the first time in 10 weeks

Published 4:47 pm Monday, August 29, 2022

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Tennessee is the 7th least expensive market in the nation

NASHVILLE — For the first time in over 10 weeks, the Tennessee gas price average held steady week-over-week, with the state average on August 29 the same as one week ago. 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,” said Megan Cooper, spokeswoman for AAA – The Auto Club Group. “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 if it threatens refineries along the Texas, Louisiana or Mississippi coast lines.”

Quick Facts
• 80% of Tennessee gas stations have prices below $3.50
• The lowest 10% of pump prices are $3.22 for regular unleaded
• The highest 10% of pump prices are $3.81 for regular unleaded
• Tennessee fell to the 7th least expensive market in the nation

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Tennessee Regional Prices
• Most expensive metro markets – Morristown ($3.57), Memphis ($3.53), Knoxville ($3.51)
• Least expensive metro markets – Clarksville ($3.31), Chattanooga ($3.34), Johnson City ($3.38)