Tennessee gas prices dropping from all-time high, down to $4.37 per gallon
(The Center Square) — Gas prices in Tennessee, like much of the country, have dropped in the past week as the new average on Thursday morning reached $4.37 per gallon compared to the $4.75 national average.
The lowest was in Cleveland, Tennessee, where prices were $4.12, down from $4.30 a week before and a high of $4.69 on June 11.
“The primary reason for the decline is lower demand at the pump as fewer people fueled up over the past two weeks,” according to the American Automobile Association. “The lull, however, could end with the arrival of the summer driving season.”
Tennessee was in the top 10 lowest prices in the country.
“GOOD NEWS: in the days and weeks ahead we’re going to see hundreds, nay, thousands of stations falling back under $4 per gallon,” said Patrick De Haan, Gas Buddy energy analyst. “to clarify and set expectations- most of the stations that could fall to $3.99 or less will be in states like SC, GA, MS, LA, AR, TX, AL, TN, NC…”
The lowest recorded prices in the state on Thursday morning was $3.77 per gallon at a Marathon in McEwen and $3.89 at both a McEwen Shell station and at an IGA in Paris, according to GasBuddy.
De Haan said that more than 2,500 stations in the country were recording prices lower than $4.
Tennessee recorded its highest average price of $4.64 on June 12 and was at $4.48 a week ago, $4.57 a month ago and $2.89 on this day in 2021.
“Domestic gasoline demand dipped recently, which took some of the pressure off of pump prices. About 80% of stations are now selling regular for under $5 a gallon,” said Andrew Gross, AAA spokesperson. “But July is typically the heaviest month for demand as more Americans hit the road, so this trend of easing prices could be short-lived.”
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