Gas prices are trending slightly lower as over 751,000 Tennesseans are forecast to take a road trip over the Memorial Day weekend. The Tennessee Gas Price average is now $3.12 which is 21 cents less expensive than one month ago and $1.17 less than one year ago.
View the full Memorial Day Travel Forecast here. Drivers can find current gas prices along their route using the AAA TripTik Travel planner.
“Tennesseans planning a holiday road trip this weekend will spend a dollar per gallon less at the pump than they did last Memorial Day, ” said Megan Cooper, spokeswoman, AAA – The Auto Club Group. “It’s likely that gas prices across the state will continue to fluctuate this week, however, it looks like most of the expected changes should be favorable for drivers. The even better news is that it is highly unlikely prices will come anywhere near last year’s state average of $4.27 per gallon for the holiday weekend.
- 33% of Tennessee gas stations have prices below $3.00
- The lowest 10% of pump prices are $2.88 for regular unleaded
- The highest 10% of pump prices are $3.50 for regular unleaded
- Tennessee is the 6th least expensive market in the nation
National Gas Prices
The usual ebb and flow of pump prices took a break last week, with the national average for a gallon of gas rising only a penny to $3.54. A decline in demand and the low cost of oil are the main culprits.
According to new data from the Energy Information Administration (EIA), gas demand declined from 9.30 to 8.91 million b/d last week. The drop has reduced pressure on pump prices. Mean-while, total domestic gasoline stocks decreased by 1.4 million bbl to 218.3 million bbl. If gas demand continues to decrease, drivers could see pump prices follow suit.
Today’s national average of $3.54 is 13 cents less than a month ago and $1.05 less than a year ago.
Tennessee Regional Prices
- Most expensive metro markets – Memphis ($3.15), Johnson City ($3.15), Nashville ($3.15)
- Least expensive metro markets – Clarksville ($3.00), Chattanooga ($3.03), Cleveland ($3.09)
Tennessee Gas Price Averages
(Price per gallon of regular unleaded gasoline)
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|Click here to view current gasoline price averages|