AAA: Tennessee Gas Prices Continue to Fall

AAA reports that Tennessee gas prices continued to decline over the past week, dropping an average of 15 cents per gallon.

The statewide average for regular gasoline is now $3.60 per gallon. That’s 52 cents lower than a month ago but 92 cents higher than this time last year. Tennessee is now the fourth least expensive state in the nation for gas prices.

According to AAA, crude oil prices have fallen following the announcement of an agreement between the United States and Iran to reopen the Strait of Hormuz. While lower crude oil prices typically lead to lower prices at the pump, AAA says it could still take weeks for market conditions to stabilize.

Among Tennessee’s major metro areas, Memphis has the highest average gas price at $3.74 per gallon, followed by Jackson at $3.63 and Nashville at $3.62. Chattanooga has the state’s lowest average at $3.33 per gallon, followed by Clarksville at $3.35 and Cleveland at $3.42.