Gas Prices Decline Seven Cents

Average gasoline prices in Tennessee have fallen 7.8 cents per gallon in the last week, averaging $2.69/g today, according to GasBuddy's survey of 3,821 stations in Tennessee. Prices in Tennessee are 5.8 cents per gallon lower than a month ago and stand 23.4 cents per gallon lower than a year ago. The national average price of diesel has increased 1.6 cents in the last week and stands at $3.648 per gallon.

According to GasBuddy price reports, the cheapest station in Tennessee was priced at $2.37/g yesterday while the most expensive was $4.11/g, a difference of $1.74/g. The lowest price in the state yesterday was $2.37/g while the highest was $4.11/g, a difference of $1.74/g.

The national average price of gasoline has fallen 3.8 cents per gallon in the last week, averaging $3.08/g today. The national average is down 4.4 cents per gallon from a month ago and stands 18.2 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:
February 24, 2024: $2.93/g (U.S. Average: $3.26/g)
February 24, 2023: $3.01/g (U.S. Average: $3.33/g)
February 24, 2022: $3.32/g (U.S. Average: $3.57/g)
February 24, 2021: $2.43/g (U.S. Average: $2.67/g)
February 24, 2020: $2.20/g (U.S. Average: $2.47/g)
February 24, 2019: $2.16/g (U.S. Average: $2.39/g)
February 24, 2018: $2.28/g (U.S. Average: $2.51/g)
February 24, 2017: $2.06/g (U.S. Average: $2.28/g)
February 24, 2016: $1.50/g (U.S. Average: $1.71/g)
February 24, 2015: $2.13/g (U.S. Average: $2.31/g)

Neighboring areas and their current gas prices:
Chattanooga- $2.55/g, down 14.6 cents per gallon from last week's $2.69/g.
Nashville- $2.70/g, down 13.5 cents per gallon from last week's $2.83/g.
Huntsville- $2.75/g, down 4.6 cents per gallon from last week's $2.79/g.

"With the sharp gas price increases on the West Coast now fading, the national average has dipped slightly over the past week. While some areas are seeing increases, others are experiencing stability or even slight declines, as the bulk of the seasonal transition has yet to significantly impact gasoline prices-- certainly good news for motorists," said Patrick De Haan, head of petroleum analysis at GasBuddy. "Oil prices have remained steady in the low $70s, but we continue to monitor key developments, including ongoing talks between the U.S., Russia, and Ukraine on a potential agreement. However, as we inch closer to March, the typical March madness will eventually take hold, so motorists may want to enjoy the slight decline while it lasts. While I don't see an abrupt spike in the national average just yet, we're likely to see upward movement in the weeks ahead."