Tennessee Gas Prices Drop Three Cents Despite Winter Weather

Tennessee’s average gas price fell three cents last week. The state average is now $2.51 per gallon, one cent lower than a month ago and 29 cents lower than a year ago.

Although some areas experienced localized gasoline outages due to winter weather and power outages, overall prices remained steady. Prices are expected to remain lower in the near term, though some volatility is still possible.

Nationally, the average price for a gallon of regular gasoline rose to $2.87, influenced by winter storms that disrupted crude production and refinery operations. Gasoline demand increased ahead of the storms as drivers filled their tanks. U.S. crude oil inventories are about 3% below the five-year average, and West Texas Intermediate crude closed at $63.21 per barrel, up 82 cents from the previous week.

In Tennessee, metro prices vary widely. Nashville ($2.59), Cleveland ($2.58), and Jackson ($2.57) are among the most expensive markets, while Morristown ($2.38), Knoxville ($2.40), and Clarksville ($2.43) are among the least expensive. Tennessee ranks as the ninth least expensive state in the nation.