Tennessee Gas Prices Remain Steady as Summer Nears End

Gas prices in Tennessee are holding steady heading into the final stretch of summer travel. The state average currently sits at $2.77 per gallon, just one cent higher than last week. Prices have shifted little in recent weeks, with no major changes across metro areas—none of which saw movement greater than three cents.

Compared to previous timeframes, Tennessee drivers are paying two cents less than a month ago and 29 cents less than they were at this time last year.

Across the country, the national average remains unchanged at $3.14 per gallon, continuing a season of stable prices. The trend is largely due to crude oil maintaining a relatively low average of around $65 per barrel, preventing significant swings at the pump.

As of last week’s close, West Texas Intermediate (WTI) crude settled at $65.25 per barrel, down six cents. The U.S. Energy Information Administration reports that national crude inventories dropped by 3.2 million barrels, bringing the total to 419 million barrels, about 9% below the five-year seasonal average.

Here’s a look at average gas prices across major Tennessee cities:

• Chattanooga: $2.70

• Knoxville: $2.74

• Memphis: $2.82

• Nashville: $2.82

Prices are expected to remain relatively stable barring unexpected fluctuations in crude oil markets.