Gas Prices Stabilize

Tennessee gas prices have fallen 0.3 cents per gallon in the past week, averaging $3.13/g today, according to GasBuddy's daily survey of 3,821 stations in Tennessee. Gas prices in Tennessee are 27.5 cents per gallon higher than a month ago and stand $1.30/g higher than a year ago.

According to GasBuddy price reports, the cheapest station in Tennessee is priced at $2.87/g today while the most expensive is $3.59/g, a difference of 72.0 cents per gallon. The lowest price in the state today is $2.87/g while the highest is $3.59/g, a difference of 72.0 cents per gallon.

The national average price of gasoline has risen 0.6 cents per gallon in the last week, averaging $3.38/g today. The national average is up 19.5 cents per gallon from a month ago and stands $1.26/g higher than a year ago.

Historical gasoline prices in Tennessee and the national average going back ten years:
November 1, 2020: $1.84/g (U.S. Average: $2.12/g)
November 1, 2019: $2.28/g (U.S. Average: $2.61/g)
November 1, 2018: $2.54/g (U.S. Average: $2.76/g)
November 1, 2017: $2.24/g (U.S. Average: $2.50/g)
November 1, 2016: $2.04/g (U.S. Average: $2.20/g)
November 1, 2015: $1.93/g (U.S. Average: $2.18/g)
November 1, 2014: $2.73/g (U.S. Average: $2.98/g)
November 1, 2013: $3.12/g (U.S. Average: $3.26/g)
November 1, 2012: $3.26/g (U.S. Average: $3.50/g)
November 1, 2011: $3.26/g (U.S. Average: $3.43/g)

Neighboring areas and their current gas prices:
Chattanooga- $3.08/g, down 2.6 cents per gallon from last week's $3.11/g.
Nashville- $3.18/g, down 2.0 cents per gallon from last week's $3.20/g.
Huntsville- $3.18/g, up 1.1 cents per gallon from last week's $3.17/g.

"The jump in gas prices that started nearly a month ago is finally running out of steam for the time being, as oil prices have stabilized. Yet, some areas of California are still at or near all-time record highs for prices," said Patrick De Haan, head of petroleum analysis for GasBuddy. "While California's high prices will not become a nationwide norm, prices there will likely remain elevated due to refinery issues amidst the surge of rain and other refinery kinks. For most motorists, gas prices are likely to greatly slow their recent ascent, and we could even see some small declines in the week ahead. OPEC is planning to meet next week, and while it doesn't seem likely there will be any boost in oil output, its meeting and comments could easily drive the market up or down. The odds remain high that gas prices will remain near today's elevated levels going into the holidays, barring additional OPEC supply."