Gas Prices Fall Another Nickel

Average gasoline prices in Tennessee have fallen 5.0 cents per gallon in the last week, averaging $2.88/g today, according to GasBuddy's survey of 3,821 stations in Tennessee. Prices in Tennessee are 18.2 cents per gallon lower than a month ago and stand 51.7 cents per gallon lower than a year ago. The national average price of diesel has declined 0.2 cents in the last week and stands at $3.65 per gallon, a fresh multi-year low.

According to GasBuddy price reports, the cheapest station in Tennessee was priced at $2.56/g yesterday while the most expensive was $4.19/g, a difference of $1.63/g. The lowest price in the state yesterday was $2.56/g while the highest was $4.19/g, a difference of $1.63/g.

The national average price of gasoline has fallen 4.6 cents per gallon in the last week, averaging $3.28/g today. The national average is down 17.9 cents per gallon from a month ago and stands 48.9 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:
September 3, 2023: $3.39/g (U.S. Average: $3.77/g)
September 3, 2022: $3.35/g (U.S. Average: $3.77/g)
September 3, 2021: $2.88/g (U.S. Average: $3.18/g)
September 3, 2020: $1.95/g (U.S. Average: $2.22/g)
September 3, 2019: $2.23/g (U.S. Average: $2.56/g)
September 3, 2018: $2.56/g (U.S. Average: $2.82/g)
September 3, 2017: $2.56/g (U.S. Average: $2.63/g)
September 3, 2016: $2.02/g (U.S. Average: $2.20/g)
September 3, 2015: $2.13/g (U.S. Average: $2.43/g)
September 3, 2014: $3.20/g (U.S. Average: $3.43/g)

Neighboring areas and their current gas prices:
Chattanooga- $2.77/g, down 1.3 cents per gallon from last week's $2.78/g.
Nashville- $2.95/g, down 8.7 cents per gallon from last week's $3.04/g.
Huntsville- $2.96/g, down 3.8 cents per gallon from last week's $3.00/g.

"Motorists rejoice! The national average price of gasoline prices has continued to slump for the fifth straight week. With the summer driving season now over, we have much to look forward to for the fall: more drops at the pump as demand drops seasonally, and the changeover to cheaper winter gasoline is just two weeks away," said Patrick De Haan, head of petroleum analysis at GasBuddy. "As long as we don't see a major hurricane head into the Gulf and the situation improves in the Middle East, the national average could fall below $3 in the next two months--GasBuddy is already tracking eight states at that level or lower. While diesel prices fell slightly last week, they may rise with winter growing closer and the economy's likely rebound ahead of the Fed's expected rate cut. So, while it's great news for gas prices, diesel will likely soon see its seasonal rise kick in."