Gas Prices Fall Four Cents

Average gasoline prices in Tennessee have fallen 4.8 cents per gallon in the last week, averaging $3.40/g today, according to GasBuddy's survey of 3,821 stations in Tennessee. Prices in Tennessee are 32.7 cents per gallon higher than a month ago and stand 7.4 cents per gallon lower than a year ago. The national average price of diesel has risen 12.3 cents in the last week and stands at $4.270 per gallon.

According to GasBuddy price reports, the cheapest station in Tennessee was priced at $2.83/g yesterday while the most expensive was $4.11/g, a difference of $1.28/g. The lowest price in the state yesterday was $2.83/g while the highest was $4.11/g, a difference of $1.28/g.

The national average price of gasoline has risen 2.5 cents per gallon in the last week, averaging $3.82/g today. The national average is up 29.1 cents per gallon from a month ago and stands 9.6 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:
August 14, 2022: $3.48/g (U.S. Average: $3.92/g)
August 14, 2021: $2.84/g (U.S. Average: $3.17/g)
August 14, 2020: $1.88/g (U.S. Average: $2.18/g)
August 14, 2019: $2.33/g (U.S. Average: $2.64/g)
August 14, 2018: $2.61/g (U.S. Average: $2.86/g)
August 14, 2017: $2.13/g (U.S. Average: $2.34/g)
August 14, 2016: $1.89/g (U.S. Average: $2.12/g)
August 14, 2015: $2.29/g (U.S. Average: $2.66/g)
August 14, 2014: $3.22/g (U.S. Average: $3.47/g)
August 14, 2013: $3.32/g (U.S. Average: $3.52/g)

Neighboring areas and their current gas prices:
Chattanooga- $3.34/g, down 9.1 cents per gallon from last week's $3.43/g.
Nashville- $3.50/g, down 7.1 cents per gallon from last week's $3.57/g.
Huntsville- $3.40/g, down 1.4 cents per gallon from last week's $3.41/g.

"The national average price of gasoline continues to hold near the highest level we've seen since last October, touching $3.84 per gallon. It could climb slightly higher as we get closer to Labor Day, as oil prices remain under pressure from recent OPEC+ production cuts," said Patrick De Haan, head of petroleum analysis at GasBuddy. "While July CPI data looked pretty good with energy prices well below their year-ago level, August data isn't going to look nearly as friendly. Gasoline prices stand just over a dime away from rising back above their year ago level - something that is definitely possible by the closing summer holiday. In addition, the largest refinery in the Midwest moved up its seasonal maintenance to several weeks earlier than expected, causing a somewhat unexpected jump at the pump in the Great Lakes. Motorists will likely see a mixed bag at the pump this week, with a few states seeing prices fall slightly, while others will see the opposite."