Tennessee gas prices have fallen 3.6 cents per gallon in the past week, averaging $2.32/g today, according to GasBuddy’s daily survey of 3,821 stations.
Gas prices in Tennessee are 4.8 cents per gallon higher than a month ago and stand 34.3 cents per gallon higher than a year ago. According to GasBuddy price reports, the cheapest station in Tennessee is priced at $2.09 per gallon today while the most expensive is $2.79 per gallon, a difference of 70 cents per gallon.
The national average price of gasoline has fallen 1.8 cents per gallon in the last week, averaging $2.57 per gallon. The national average is up 0.6 cents per gallon from a month ago and stands 33.2 cents per gallon higher than a year ago.
Neighboring areas and their current gas prices include Chattanooga, at $2.24 per gallon, down 5.2 cents per gallon from last week’s $2.30. Nashville’s prices were $2.40 per gallon, down 5.9 cents per gallon from last week’s $2.46. Finally, Huntsville, Alabama’s prices are $2.37 per gallon, down 1.3 cents per gallon from last week’s $2.38.
“With Iran and the United States deescalating rising tensions last week, oil prices plummeted back under $60 per barrel, a welcome sign for motorists who had believed gas prices were about to shoot up. For now, the reduced tensions may lead gas prices to again begin falling in most states over the next few weeks before seasonal factors then again push prices back up,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “We have a closing window of opportunity that will last about four more weeks in which we could see falling prices as demand for gasoline weakens, but by mid-February, that trend may wrap up. I don’t expect to see prices fall more than 10-20 cents by then, but some clearance sales may happen in early February as refiners begin seeing challenges getting rid of the gasoline they’re forced to produce. Bottom line: enjoy the falling prices while they last and cross your fingers that tensions continue to cool between the U.S. and Iran.”