Gas Prices Fall Almost A Nickel

Average gasoline prices in Tennessee have fallen 4.3 cents per gallon in the last week, averaging $3.12/g today, according to GasBuddy's survey of 3,821 stations in Tennessee. Prices in Tennessee are 2.6 cents per gallon lower than a month ago and stand 151.5 cents per gallon lower than a year ago. The national average price of diesel has fallen 1.6 cents in the last week and stands at $3.87 per gallon.

According to GasBuddy price reports, the cheapest station in Tennessee was priced at $2.77/g yesterday while the most expensive was $3.99/g, a difference of $1.22/g. The lowest price in the state yesterday was $2.77/g while the highest was $3.99/g, a difference of $1.22/g.

The national average price of gasoline has risen 5.6 cents per gallon in the last week, averaging $3.57/g today. The national average is up 5.7 cents per gallon from a month ago and stands 144.6 cents per gallon lower 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:
June 12, 2022: $4.64/g (U.S. Average: $5.01/g)
June 12, 2021: $2.84/g (U.S. Average: $3.08/g)
June 12, 2020: $1.85/g (U.S. Average: $2.10/g)
June 12, 2019: $2.37/g (U.S. Average: $2.71/g)
June 12, 2018: $2.65/g (U.S. Average: $2.91/g)
June 12, 2017: $2.06/g (U.S. Average: $2.32/g)
June 12, 2016: $2.18/g (U.S. Average: $2.38/g)
June 12, 2015: $2.55/g (U.S. Average: $2.79/g)
June 12, 2014: $3.41/g (U.S. Average: $3.65/g)
June 12, 2013: $3.31/g (U.S. Average: $3.63/g)

Neighboring areas and their current gas prices:
Chattanooga- $3.04/g, down 9.2 cents per gallon from last week's $3.14/g.
Nashville- $3.18/g, down 8.1 cents per gallon from last week's $3.26/g.
Huntsville- $3.10/g, down 3.6 cents per gallon from last week's $3.13/g.

"We've seen some hefty gas price increases in several states in the Great Lakes and also in Florida. These areas saw prices jump up in line with behaviors that see such jumps every couple of weeks. Exacerbating these routine jumps was government data that showed the third straight week with U.S. gasoline demand over the critical 9 million barrel per day mark, putting upward pressure on average prices in other areas as well," said Patrick De Haan, head of petroleum analysis at GasBuddy. "With the Fed meeting this week to potentially alter interest rates again, we could see some turbulence in oil markets, potentially impacting states where gas prices were quiet this week, while the states that saw a big jump last week could see some moderate relief in the week ahead. The good news has continued for average diesel prices, which again fell last week to their lowest since early 2022, helping to relieve some pressure on hard-hit consumers of diesel."