Gas Prices Continue To Fall

Tennessee gas prices have fallen 13.2 cents per gallon in the past week, averaging $1.85/g today, according to GasBuddy's daily survey of 3,821 stations. Gas prices in Tennessee are 35.7 cents per gallon lower than a month ago and stand 57.7 cents per gallon lower than a year ago.

According to GasBuddy price reports, the cheapest station in Tennessee is priced at $1.19/g today while the most expensive is $2.51/g, a difference of $1.32/g. The lowest price in the state today is $1.19/g while the highest is $2.51/g, a difference of $1.32/g.

The national average price of gasoline has fallen 12.8 cents per gallon in the last week, averaging $2.08/g today. The national average is down 38.5 cents per gallon from a month ago and stands 54.7 cents per gallon lower than a year ago.

Historical gasoline prices in Tennessee and the national average going back ten years:
March 23, 2019: $2.42/g (U.S. Average: $2.63/g)
March 23, 2018: $2.39/g (U.S. Average: $2.60/g)
March 23, 2017: $2.03/g (U.S. Average: $2.29/g)
March 23, 2016: $1.83/g (U.S. Average: $1.99/g)
March 23, 2015: $2.14/g (U.S. Average: $2.42/g)
March 23, 2014: $3.28/g (U.S. Average: $3.53/g)
March 23, 2013: $3.46/g (U.S. Average: $3.68/g)
March 23, 2012: $3.71/g (U.S. Average: $3.89/g)
March 23, 2011: $3.39/g (U.S. Average: $3.55/g)
March 23, 2010: $2.69/g (U.S. Average: $2.80/g)

Neighboring areas and their current gas prices:
Chattanooga- $1.78/g, down 11.3 cents per gallon from last week's $1.89/g.
Nashville- $2.01/g, down 7.0 cents per gallon from last week's $2.08/g.
Huntsville- $1.92/g, down 10.6 cents per gallon from last week's $2.02/g.

"Gas prices have spent virtually all of March marching lower, with the drop continuing as the coronavirus destroys oil demand globally, leading to the lowest oil prices we've seen in 18 years, paving the way for still an additional 35-75 cent per gallon drop at most stations in the weeks ahead," said Patrick DeHaan, head of petroleum analysis for GasBuddy. "I don't think I've ever seen such a collapse in prices, even including the Great Recession. What we're witnessing is easily going to go down as the great collapse in oil demand, and for motorists hurrying to fill up today, they're wasting their money as prices will continue to drop in the days ahead. Gas stations are passing along the drop several weeks behind, and there's plenty more room for prices to drop, putting 99 cents per gallon prices as a strong possibility for perhaps many more stations than we previously anticipated. This is truly an unprecedented turn of events."