NASHVILLE, TN - Tennessee drivers enjoyed a welcome break at the pump over the Thanksgiving holiday, with gas prices falling four cents on average compared to the previous week. The state average on Thanksgiving Day came in at $2.63 per gallon, the lowest holiday price since 2020. As of Monday, the Tennessee average stands at $2.60, which is four cents less than a month ago and six cents less than this time last year.

“Tennessee drivers saw a nice break in gas prices over the holiday weekend. Pump prices were five cents cheaper than last year’s holiday, and the cheapest Thanksgiving prices in five years,” said Megan Cooper, spokeswoman for AAA – The Auto Club Group. She added that lower crude oil costs and seasonally reduced demand are likely to keep prices steady through the rest of the holiday season.

Tennessee Gas Price Averages 
(Price per gallon of regular unleaded gasoline) 

Across Tennessee, regional prices show some variation. Jackson posted the highest average at $2.66, followed closely by Nashville at $2.65 and Memphis at $2.64. On the lower end, Chattanooga and Clarksville both reported averages of $2.51, while Murfreesboro came in at $2.54.

AAA notes that Tennessee currently ranks as the seventh least expensive market in the nation for gasoline. With the holiday travel season underway, the combination of lower crude oil prices, winter-blend fuel production, and steady supply has created a rare moment of relief for motorists.

Nationally, the average price of gasoline fell to $3.00 per gallon on Sunday, marking the first time in four years that the country has seen prices dip to that level. The last time the national average hit $3.00 was May 12, 2021. Analysts point to sluggish demand and declining crude oil prices as the primary drivers behind the drop.

For families hitting the road to visit loved ones, the timing couldn’t be better. What might have been a costly holiday drive has turned into a season of savings, giving travelers one more reason to be thankful this year.