Gas Prices Up A Penny

Average gasoline prices in Tennessee have risen 1.1 cents per gallon in the last week, averaging $3.00/g today, according to GasBuddy's survey of 3,821 stations in Tennessee. Prices in Tennessee are 13.7 cents per gallon lower than a month ago and stand 13.8 cents per gallon lower than a year ago. The national average price of diesel has fallen 1.6 cents in the last week and stands at $3.73 per gallon.

According to GasBuddy price reports, the cheapest station in Tennessee was priced at $2.55/g yesterday while the most expensive was $3.99/g, a difference of $1.44/g. The lowest price in the state yesterday was $2.55/g while the highest was $3.99/g, a difference of $1.44/g.

The national average price of gasoline has risen 1 cent per gallon in the last week, averaging $3.41/g today. The national average is down 18.0 cents per gallon from a month ago and stands 13.8 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:
June 17, 2023: $3.14/g (U.S. Average: $3.55/g)
June 17, 2022: $4.60/g (U.S. Average: $4.99/g)
June 17, 2021: $2.84/g (U.S. Average: $3.07/g)
June 17, 2020: $1.86/g (U.S. Average: $2.11/g)
June 17, 2019: $2.33/g (U.S. Average: $2.67/g)
June 17, 2018: $2.62/g (U.S. Average: $2.89/g)
June 17, 2017: $2.03/g (U.S. Average: $2.29/g)
June 17, 2016: $2.15/g (U.S. Average: $2.35/g)
June 17, 2015: $2.58/g (U.S. Average: $2.80/g)
June 17, 2014: $3.42/g (U.S. Average: $3.67/g)

Neighboring areas and their current gas prices:
Chattanooga- $2.93/g, up 8.4 cents per gallon from last week's $2.85/g.
Nashville- $3.10/g, up 5.0 cents per gallon from last week's $3.05/g.
Huntsville- $3.09/g, down 5.4 cents per gallon from last week's $3.14/g.

"Since the national average price of gasoline fell to its lowest June level since 2021 last week, we've seen the drop in prices take a break, with some states seeing a small rise over the last week. Thankfully, I expect this to be more like a short timeout, with an eventual return to falling gasoline prices in most states," said Patrick De Haan, head of petroleum analysis at GasBuddy. "The decline in diesel prices continues, with the national average price of diesel now at its lowest level since January 2022. Both gasoline and diesel prices remain below their year-ago level, which is music to the ears of the Federal Reserve, as fuel prices are a significant component of the Consumer Price Index. Also factoring in gasoline demand that has been running a bit weaker than expected, market fundamentals look pretty good right now if you're a motorist."