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NASHVILLE — Tennessee drivers are seeing continued relief at the gas pump as average prices across the state fell five cents over the past week. As of Monday, the state average sits at $2.72 per gallon, according to AAA – The Auto Club Group.

The current average is seven cents less than one month ago and 60 cents lower than this time last year.

“Lower crude oil prices are continuing to impact the prices that we see at the pump,” said Megan Cooper, spokeswoman for AAA. “We’re still seeing concerns of a potential economic slowdown, which typically results in lower fuel demand. We’re also seeing oil prices drop in reaction to the expected increase in output from OPEC+, which would add more oil to the market. Barring any major shifts in the oil market, it looks like drivers are likely to see continued relief at the gas pump for now.”

Nationally, prices remained relatively steady over the past week. The average for a gallon of regular rose slightly to $3.16. Despite the usual seasonal uptick in demand, falling crude oil prices continue to temper increases at the pump.

AAA noted that concerns over economic growth and OPEC+’s plan to boost oil output are both contributing to lower oil prices. As a result, the national average is nearly 50 cents lower than at this time last year.

As of the latest report, West Texas Intermediate (WTI) crude settled at $58.21 per barrel, down $2.21 following Wednesday’s trading. The U.S. Energy Information Administration reported a decrease in domestic crude inventories by 2.7 million barrels. Total inventories now stand at 440.4 million barrels, about 6% below the five-year seasonal average.

Among Tennessee metro areas, Johnson City recorded the highest average price at $2.79, followed by Nashville at $2.77 and Jackson at $2.76. The lowest prices were found in Cleveland ($2.62), Clarksville ($2.63) and Morristown ($2.64).