Tennessee’s average gas price is $2.43 per gallon for regular unleaded, which is 3 cents less than a week ago and a month ago. The state currently has the seventh lowest gas prices in the nation, according to AAA.
The national average is $2.71, which is 2 cents less than last Monday, 4 cents less than a month ago and 15 cents cheaper than last year. Motorists can now find gas for $2.75 or less at 65 percent of gas stations across the country.
“While gas prices continue to drop, the rate at which they are decreasing has slowed,” said Jeanette Casselano, AAA spokesperson, in a press release. “On the week, most states saw cheaper pump prices of only a few pennies and motorists can expect this trend to continue into early August.”
Most expensive gas prices in the state
• Jackson ($2.47)
• Nashville ($2.47)
• Memphis ($2.45)
Least expensive gas prices in the state
• Cleveland ($2.31)
• Chattanooga ($2.32)
• Johnson City ($2.41)
What about oil?
At the close of Friday’s formal trading session on the New York Mercantile Exchange, West Texas Intermediate crude increased by $1.71 to settle at $55.66, AAA reported.
Crude prices mostly decreased last week after President Donald Trump announced new tariffs on imports from China, furthering a trade war between the world’s two largest economies and oil consumers, AAA reported.
Market observers are concerned that increasing tariff costs will likely reduce global demand for crude oil. If the trade tensions between the countries continue to increase this week, crude prices will likely continue to decline.
To view daily gas price averages, visit gasprices.aaa.com.