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NASHVILLE – Gas prices across Tennessee fell an average of seven cents over the past week, bringing the state’s average to $2.68 per gallon. The current price is eight cents lower than a month ago and 40 cents less than this time last year.

“Crude oil prices fluctuated lower over last week, which likely helped contribute to the welcome break in pump prices across the state,” said Megan Cooper, spokeswoman for AAA – The Auto Club Group. “As we head into the spring break travel period, increased gasoline demand is likely to place upward pressure on our pump prices. For now, drivers can enjoy the fact that Tennessee is the third least expensive market in the nation for gas prices.”

National Gas Prices and Market Trends

The national average for a gallon of gas dipped by one cent to $3.11 over the past week, partially due to softer oil prices. However, some fluctuations at the pump are expected as markets and retailers react to tariffs and the transition to summer-grade gasoline, which is more costly to produce.

According to the Energy Information Administration (EIA), gasoline demand increased from 8.45 million barrels per day to 8.87 million, while total domestic gasoline supply decreased from 248.3 million barrels to 246.8 million. Gasoline production averaged 9.6 million barrels per day last week.

The current national average for a gallon of gas is $3.08, which is five cents lower than a month ago and 31 cents less than a year ago.

Oil Market and Regional Gas Price Breakdown

West Texas Intermediate (WTI) crude oil closed at $66.31 per barrel last Wednesday, falling $1.95. U.S. crude oil inventories increased by 3.6 million barrels to 433.8 million, approximately 4% below the five-year average for this time of year, according to the EIA.

Tennessee’s Most Expensive Metro Markets:

• Jackson ($2.78)
• Johnson City ($2.77)
• Memphis ($2.74)

Tennessee’s Least Expensive Metro Markets:

• Chattanooga ($2.53)
• Clarksville ($2.60)
• Cleveland ($2.61)