38% of Tennessee filling stations have gas prices below $1.50
The Tennessee gas price average continues to decline and has dropped nearly 4 cents since this time last week. The Tennessee Gas Price average is now $1.59 which is nearly 35 cents less than one month ago and one dollar less than one year ago.
“One in four U.S. gas stations are selling gas for $1.49 or less,” said Megan Cooper, spokesperson, AAA - The Auto Club Group. “Even with regional refinery rates dropping, we will continue to see gas prices decrease though potentially at a slower rate than the past few weeks.”
Quick Facts
- 38% of TN filling stations have gas prices below $1.50
- TN gas prices have declined for 54 consecutive days for a total discount of 64 cents per gallon
- TN gas price average is $1 less than this time last year
National Gas Prices
On the week, the national gas price average decreased by a nickel pushing the year-over-year savings to $1.03/gallon. Today, 20 states have pump price averages that are $1/gallon or more cheaper compared to last year, with another dozen states within a dime of reaching this mark.
On the week, U.S. gasoline demand was stable at 5.1 million b/d as refinery rates dipped down to 69%, a level not reported by the Energy Information Administration (EIA) in more than a decade. Despite lower run rates amid low demand, gasoline stocks increased. Total U.S. stock levels measure at a record 262 million bbl – the highest weekly domestic stock level ever recorded by EIA, since it began reporting the data in 1990