13 Consecutive Weeks Of Gas Price Decline Snapped

Average gasoline prices in Tennessee have risen 6.4 cents per gallon in the last week, averaging $2.79/g today, according to GasBuddy's survey of 3,821 stations in Tennessee. Prices in Tennessee are 5.6 cents per gallon lower than a month ago and stand 10.3 cents per gallon higher than a year ago. The national average price of diesel has risen 0.6 cents in the last week and stands at $4.00 per gallon.

According to GasBuddy price reports, the cheapest station in Tennessee was priced at $2.33/g yesterday while the most expensive was $3.89/g, a difference of $1.56/g. The lowest price in the state yesterday was $2.33/g while the highest was $3.89/g, a difference of $1.56/g.

The national average price of gasoline has risen 2.9 cents per gallon in the last week, averaging $3.07/g today. The national average is down 13.8 cents per gallon from a month ago and stands 1.8 cents per gallon higher than a year ago, according to GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.

Historical gasoline prices in Tennessee and the national average going back ten years:
December 26, 2022: $2.69/g (U.S. Average: $3.06/g)
December 26, 2021: $2.97/g (U.S. Average: $3.25/g)
December 26, 2020: $2.01/g (U.S. Average: $2.25/g)
December 26, 2019: $2.28/g (U.S. Average: $2.54/g)
December 26, 2018: $2.03/g (U.S. Average: $2.30/g)
December 26, 2017: $2.22/g (U.S. Average: $2.44/g)
December 26, 2016: $2.08/g (U.S. Average: $2.28/g)
December 26, 2015: $1.76/g (U.S. Average: $2.00/g)
December 26, 2014: $2.15/g (U.S. Average: $2.30/g)
December 26, 2013: $3.06/g (U.S. Average: $3.26/g)

Neighboring areas and their current gas prices:
Chattanooga- $2.70/g, up 9.8 cents per gallon from last week's $2.60/g.
Nashville- $2.90/g, up 12.0 cents per gallon from last week's $2.78/g.
Huntsville- $2.79/g, up 4.9 cents per gallon from last week's $2.74/g.

"After 13 straight weeks of decline, average gasoline prices have edged higher due to optimistic comments from the Fed on cutting interest rates in 2024, coupled with Houthi attacks on vessels in the Red Sea, boosting concerns of a disruption to global shipping, including oil shipments," said Patrick De Haan, head of petroleum analysis at GasBuddy. "For now, the price of gasoline has already jumped, but could ease slightly this week ahead of the New Year. For now, I'm optimistic that we may still have a chance of seeing the first $2.99 national average since 2021 sometime before spring arrives. We'll have the full details on what we expect for gasoline and diesel prices in 2024 later this week. Hopefully motorists will be able to celebrate a New Year with good news at the pump!"