Gas Drops Close To A Dime

Average gasoline prices in Tennessee have fallen 9.9 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 30.2 cents per gallon lower than a month ago and stand 22.8 cents per gallon lower than a year ago. The national average price of diesel has fallen 6.8 cents in the last week and stands at $4.41 per gallon.

According to GasBuddy price reports, the cheapest station in Tennessee was priced at $2.64/g yesterday while the most expensive was $4.49/g, a difference of $1.85/g. The lowest price in the state yesterday was $2.64/g while the highest was $4.49/g, a difference of $1.85/g.

The national average price of gasoline has fallen 11.3 cents per gallon in the last week, averaging $3.55/g today. The national average is down 29.9 cents per gallon from a month ago and stands 30.9 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:
October 16, 2022: $3.35/g (U.S. Average: $3.86/g)
October 16, 2021: $3.07/g (U.S. Average: $3.30/g)
October 16, 2020: $1.91/g (U.S. Average: $2.16/g)
October 16, 2019: $2.33/g (U.S. Average: $2.66/g)
October 16, 2018: $2.66/g (U.S. Average: $2.87/g)
October 16, 2017: $2.27/g (U.S. Average: $2.45/g)
October 16, 2016: $2.10/g (U.S. Average: $2.23/g)
October 16, 2015: $2.00/g (U.S. Average: $2.27/g)
October 16, 2014: $2.94/g (U.S. Average: $3.15/g)
October 16, 2013: $3.17/g (U.S. Average: $3.35/g)

Neighboring areas and their current gas prices:
Chattanooga- $2.99/g, down 10.4 cents per gallon from last week's $3.09/g.
Nashville- $3.17/g, down 14.1 cents per gallon from last week's $3.31/g.
Huntsville- $3.12/g, down 10.7 cents per gallon from last week's $3.23/g.

"The downward momentum has indeed gained steam, with the national average declining over the last week with again virtually every village, town, city, region and state seeing gasoline prices fall - with the added bonus that diesel prices have also declined. While the price of oil jumped some 5% last week, I remain steadfast that additional declines are coming to gasoline prices the way the situation stands now, but remain cautious that this depends on actions that are not foreseeable, mainly the conflict in the Middle East," said Patrick De Haan, head of petroleum analysis at GasBuddy. "For now, the national average is likely to soon fall to its lowest level in six months. Some areas of the Great Lakes could see a price cycle in the next few weeks, which is typical after long declines as stations often pass along the drops there faster than anywhere else. I believe the national average still has some 15-35 cents of declining to do the way things stand now."