Second cheapest start to the month of August in over a decade
NASHVILLE, Tenn., (August 10, 2020) — Gas prices, on average, dropped three cents across Tennessee over the last week. The Tennessee Gas Price average is now $1.89 which is five cents less than one month ago and nearly 50 cents less than one year ago.
“As we move into the second week of the August, it is pricing out to be the second cheapest start to the month in more than a decade,” said Megan Cooper, spokesperson, AAA – The Auto Club Group. “Gas prices have high potential to push cheaper, especially with many school districts planning for virtual learning. This could drive demand down in the weeks ahead as school starts at-home.”
- 91% of Tennessee gas stations still have prices below $2.00
- The lowest 10% of pump prices are $1.68 for regular unleaded
- The highest 10% of pump prices are $2.20 for regular unleaded
- Tennessee remains the 9th least expensive market in the nation
National Gas Prices
On the week, the majority of states saw gas prices decrease minimally – by one to two cents or saw no change at the pump. Though low, the volatility was enough to drive the national average down a penny from last Monday to $2.17. Today’s average is two cents less than last month and 49 cents cheaper than a year ago.
In the latest Energy Information Administration (EIA) weekly report, gas demand fell from 8.8 million b/d to 8.6 million b/d while stocks held steady at 247 million bbl.
Tennessee Regional Prices
- Most expensive metro markets – Memphis ($1.96), Jackson ($1.95), Nashville ($1.94)
- Least expensive metro markets – Knoxville ($1.83), Chattanooga ($1.83), Cleveland ($1.84)
Tennessee Gas Price Averages
(Price per gallon of regular unleaded gasoline)
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|Click here to view current gasoline price averages|