Motorists are finding some of the lowest gas prices of the year. Tennessee gas prices should hit their lowest point of 2017 early this week. On Sunday, the state average slipped to $2.05, after falling 3 cents during the past week. The current average price is 9 cents less than this time last year. Here in the 'Boro, the week began with some discounters offering regular gas for $1.96 per gallon.
The average price for gasoline in Tennessee declined for the 20th consecutive day on Sunday, for a total discount of 6 cents. The state average declined by only fractions of a penny per day for most of that time, but the rate of decline rose to a cent a day during the past four days. If that rate continues, the state average would set a new 2017 low in the next couple days. The lowest price so far this year was $2.036 on March 27. When that price-point is breached, the Tennessee average would become the lowest since December.
- The most expensive gas price averages in Tennessee are in Nashville ($2.09), Memphis ($2.08), and Clarksville-Hopkinsville ($2.05)
- The least expensive gas price averages in Tennessee are in Chattanooga ($1.95), Johnson City-Kingsport-Bristol ($2.03), Knoxville ($2.04)
What's Pushing the Price Plunge?
"The plunge at the pump comes as oil prices took a pounding for the third week in a row," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "Markets moved lower after another round of supply data showing high U.S. and global refinery production. American motorists are the big winners here, as they fill their tanks for a summer road trip. These low gas prices should stick around for a while until oil prices change course."
National Average Price Pushes Toward 2017 Low
The national average price for a gallon of gasoline averaged $2.296 on Sunday. After falling 4 cents during the past week, the national average sits at 4 cents less than this time last year.
The national average is flirting with 2017 lows, according to AAA, whose data is collected from credit card swipes and direct feeds from 120,000 gas stations nationwide, in cooperation with OPIS and Wright Express. The lowest price so far this year was $2.262 on February 9. The national average is falling at a rate of 1-cent per day, positioning the price to breach this year's lows mid-week. Once that happens, the national average would be the lowest since December 2016.
Meteorologists are watching two storms in the Atlantic Basin, either of which have the potential to push fuel prices higher this week. Oil and gas prices would rise if either of these develop into a major storm, move into the Gulf of Mexico, and threaten supply coming from refineries along the gulf coast.
Gas Price Tools for Reporters/Consumers
- GasPrices.AAA.com - Daily national, state, and metro gas price averages.
- AAA Mobile app - Free app that shows current prices at a gas station near you.
Highs and Lows of 2017*
- The highest national average price for gasoline, so far this year, is $2.42 on April 21; the lowest is $2.26 on February 9.
- The highest average price in Tennessee, so far this year, is $2.18 on April 20; the lowest is $2.04 on March 27.
Summer Gas Prices will Rival Those from 2016
- The national average for gasoline was $2.23/g from June 1 - August 31, 2016
- The Tennessee average for gasoline was $2.03/g from June 1 - August 31, 2016
CURRENT AND PAST PRICE AVERAGES
 |
Sunday | Saturday | Week Ago | Month Ago | One Year Ago | Highest Price on Record |
| National | $2.296 | $2.301 | $2.339 | $2.338 | $2.341 | $4.114 (7/17/2008) |
| Florida | $2.272 | $2.280 | $2.334 | $2.312 | $2.305 | $4.079 (7/17/2008) |
| Tampa | $2.205 | $2.216 | $2.295 | $2.247 | $2.253 | $4.009 (7/16/2008) |
| Georgia | $2.160 | $2.165 | $2.195 | $2.190 | $2.222 | $4.164 (9/15/2008) |
| Tennessee | $2.053 | $2.058 | $2.085 | $2.094 | $2.145 | $4.118 (9/15/2008) |
