Gas Prices this week in TN

Nov 18, 2019 at 11:18 am by bryan


Tennessee's state average of $2.31 is four cents less than last week, four cents lower than one month ago, and 10 cents less than this time last year. Tennessee has the 10th lowest state average in the nation.

Today's national average of $2.59 is two cents cheaper than last week, six cents less than last month and three cents cheaper than this time last year.

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On the week, gas prices are mostly cheaper across the country. A small number of states saw pump prices decrease more than a dime, though the majority saw fluctuation of a few pennies.

"An increase in gasoline stocks amid robust demand helped to push gas prices cheaper on the week," said Jeanette Casselano, AAA spokesperson. "We would expect this trend to continue throughout most of the month, but the exception is Thanksgiving. With nearly 49.3 million Americans expected to travel by car for the holiday, gas prices may start to fluctuate by the end of this week."

Crude oil

At the close of Friday's formal trading session on the NYMEX, WTI increased by 95 cents to settle at $57.72. Crude prices increased last week (despite the EIA's report that domestic crude inventories increased) due to increased optimism that China and the U.S. - the world's two largest crude consumers - are continuing to resolve ongoing trade tensions that sparked market fears that global crude demand would suffer as a result of increased tariffs between both countries.

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