Gas Prices Fall a Nickel

Average gasoline prices in Tennessee have fallen 5.6 cents per gallon in the last week, averaging $2.58/g today, according to GasBuddy's survey of 3,821 stations in Tennessee. Prices in Tennessee are 7.5 cents per gallon lower than a month ago and stand 15.4 cents per gallon lower than a year ago. The national average price of diesel has declined 1.8 cents in the last week and stands at $3.472 per gallon.

According to GasBuddy price reports, the cheapest station in Tennessee was priced at $2.29/g yesterday while the most expensive was $3.99/g, a difference of $1.70/g. The lowest price in the state yesterday was $2.29/g while the highest was $3.99/g, a difference of $1.70/g.

The national average price of gasoline has risen 0.8 cents per gallon in the last week, averaging $2.98/g today. The national average is down 7.5 cents per gallon from a month ago and stands 7.1 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:
December 16, 2023: $2.74/g (U.S. Average: $3.05/g)
December 16, 2022: $2.74/g (U.S. Average: $3.13/g)
December 16, 2021: $2.99/g (U.S. Average: $3.32/g)
December 16, 2020: $1.92/g (U.S. Average: $2.20/g)
December 16, 2019: $2.27/g (U.S. Average: $2.56/g)
December 16, 2018: $2.09/g (U.S. Average: $2.36/g)
December 16, 2017: $2.19/g (U.S. Average: $2.43/g)
December 16, 2016: $2.05/g (U.S. Average: $2.23/g)
December 16, 2015: $1.80/g (U.S. Average: $2.01/g)
December 16, 2014: $2.35/g (U.S. Average: $2.51/g)

Neighboring areas and their current gas prices:
Chattanooga- $2.49/g, down 9.6 cents per gallon from last week's $2.58/g.
Nashville- $2.63/g, down 9.2 cents per gallon from last week's $2.73/g.
Huntsville- $2.68/g, down 4.2 cents per gallon from last week's $2.72/g.

"As we edge closer to the end of the year, we're seeing momentum for falling gas prices weaken, which is typical as the national average generally bottoms out between Thanksgiving and Christmas," said Patrick De Haan, head of petroleum analysis at GasBuddy. "With oil prices rising back above $70 last week, gas prices may have less potential to drop much further, though there may be a second window of lower prices in January or February in some areas, but even that won't last long. While several states saw gas prices cycle last week, marked by a big jump in prices after a large decline, those that did see hefty jumps should see prices drift a bit lower, potentially making a second run at the season's lowest prices. The West Coast, including California, should continue to see prices drift lower, but with just a few weeks left in 2024, all attention turns to 2025. GasBuddy's 2025 Fuel Outlook, among the nation's most accurate fuel price forecasts, will be released in the coming weeks, offering motorists a glimpse into gas prices for the coming year."