Tennessee’s average gas price has held steady at $2.35, which is just a half-cent less than last week, AAA reported. The state average is 7 cents more than last month and 43 cents lower than this time last year.
The national average for regular unleaded is $2.64 per gallon, which is 1 cent less than a week ago, 7 cents more than a month ago and a quarter less than a year ago.
“With fall driving season under way, demand in the U.S. is falling, allowing prices at the pump to decline,” said Stephanie Milani, public affairs director for AAA, in a press release. “This gradual decline of gas prices is typical for this time of the year. We could continue to see prices fall through the end of this year.”
Most expensive gas prices in the state
• Nashville ($2.41)
• Cleveland, Jackson and Memphis ($2.37)
• Clarksville-Hopkinsville ($2.36)
Least expensive gas prices in the state
• Chattanooga ($2.28)
• Knoxville ($2.29)
• Kingsport-Bristol ($2.30)
What about oil?
At the close of Friday’s formal trading session on the New York Mercantile Exchange, West Texas Intermediate crude increased by $1.15 to settle at $54.70, AAA reported.
Crude prices increased after an Iranian oil tanker was struck on Friday. The incident adds to concerns that increased tension in the Middle East could lead to a disruption in global crude supply.
To view daily gas price averages, visit www.GasPrices.AAA.com.