Gas Drops A Dime In Area

Average gasoline prices in Nashville have fallen 10.8 cents per gallon in the last week, averaging $2.82/g today, according to GasBuddy's survey of 596 stations in Nashville. Prices in Nashville are 0.4 cents per gallon higher than a month ago and stand 33.9 cents per gallon lower than a year ago. The national average price of diesel has declined 1.3 cents in the last week and stands at $3.56 per gallon.

According to GasBuddy price reports, the cheapest station in Nashville was priced at $2.51/g yesterday while the most expensive was $3.49/g, a difference of 98.0 cents per gallon. The lowest price in the state yesterday was $2.39/g while the highest was $8.70/g, a difference of $6.31/g.

The national average price of gasoline has fallen 3.3 cents per gallon in the last week, averaging $3.13/g today. The national average is down 6.2 cents per gallon from a month ago and stands 39.7 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 Nashville and the national average going back ten years:
October 21, 2023: $3.16/g (U.S. Average: $3.52/g)
October 21, 2022: $3.29/g (U.S. Average: $3.80/g)
October 21, 2021: $3.20/g (U.S. Average: $3.36/g)
October 21, 2020: $1.96/g (U.S. Average: $2.16/g)
October 21, 2019: $2.40/g (U.S. Average: $2.63/g)
October 21, 2018: $2.70/g (U.S. Average: $2.83/g)
October 21, 2017: $2.39/g (U.S. Average: $2.44/g)
October 21, 2016: $2.09/g (U.S. Average: $2.22/g)
October 21, 2015: $2.01/g (U.S. Average: $2.23/g)
October 21, 2014: $2.89/g (U.S. Average: $3.08/g)

Neighboring areas and their current gas prices:
Chattanooga- $2.67/g, down 13.7 cents per gallon from last week's $2.81/g.
Tennessee- $2.76/g, down 7.4 cents per gallon from last week's $2.84/g.
Huntsville- $2.85/g, unchanged from last week's $2.85/g.

"The median U.S. price for gasoline has just slipped below the $3/gal mark for the first time since early 2024, while the national average price of gasoline has returned to decline as oil prices have begun to cool off after Iran's attack on Israel, due in part to sources saying Israel has agreed not to attack Iran's oil infrastructure," said Patrick De Haan, head of petroleum analysis at GasBuddy. "With the potential of an attack on Iran's oil infrastructure decreasing as a result, the risk calculus for oil is decreasing, and with continued economic weakness in China providing bearish sentiment, oil prices late last week slipped back below the $70 per barrel mark, opening the door for a longer decline to potentially return to the national average. I'm hopeful that the downward trend will continue again this week for a majority of Americans as we see the average price of gasoline start to make a targeted effort to fall below the $3/gal mark for the first time since 2021."