Tennessee gas prices dip slightly as Independence Day approaches

Published 2:40 pm Monday, June 24, 2024

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NASHVILLE — Tennessee gas prices have become slightly less expensive over the past week, dropping by three cents on average. The state’s gas price average now stands at $3.00, which is 20 cents less than a month ago and 12 cents less than a year ago.

“Not only did our state gas price average drop slightly over last week, but Tennessee moved to the 4th least expensive state in the country,” said Megan Cooper, spokeswoman for AAA – The Auto Club Group. “We have seen gasoline futures prices rise the last two weeks, which raises the cost of producing gasoline. This means we could see some additional fluctuations in gas pricing over the next week, which isn’t uncommon during the busy summer travel season.”

National Gas Prices

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The national average for a gallon of gasoline has held steady for the last two weeks at $3.44. On Monday, June 24, the national average of $3.44 is 16 cents less than a month ago and 13 cents less than a year ago.

AAA Expects Record Number of Travelers for Independence Day

AAA projects a record 60.6 million people will travel by car over Independence Day week – an additional 2.8 million travelers compared to last year. This year’s number also surpasses 2019 when 55.3 million people traveled by car over the July 4th week.

Meanwhile, road travel in Tennessee will set a record for the second consecutive year. More than 1.4 million Tennesseans are expected to take a road trip, 63,500 more than last year.

Tennessee drivers are currently paying less for gasoline than they did last Independence Day, when the state average was $3.06. Gas prices have been moving lower recently. However, that downward trend could reverse if oil prices rise due to geopolitical tensions or a hurricane threatens oil rigs and refineries along the Gulf of Mexico.

Click here to view the full Independence Day Travel Forecast.

AAA Resources for Drivers

  • Enroll in savings programs: AAA Members who enroll in Shell’s Fuel Rewards program can save 30 cents per gallon on their first fill-up and 5 cents per gallon on each additional trip to the pump. Click here for more information.
  • Get a tune-up: Ensure your vehicle is properly maintained to optimize its fuel economy. Visit AAA.com/AutoRepair to find a certified repair shop.
  • Find the lowest gas prices in your area by using the free AAA mobile app.
  • Determine anticipated fuel costs for your trip by using AAA’s Gas Cost Calculator.

Tennessee Regional Prices

  • Most expensive metro markets: Jackson ($3.04), Nashville ($3.04), Memphis ($3.02)
  • Least expensive metro markets: Chattanooga ($2.90), Clarksville ($2.92), Kingsport ($2.98)