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Tennessee gas prices 20 cents lower than last year

Staff Report • May 28, 2019 at 3:41 PM

NASHVILLE — Gas prices are still falling in Tennessee and several other states across the country.

Tuesday’s state average of $2.52 per gallon for regular unleaded is the seventh lowest average in the nation, according to AAA. That price is 2 cents less than last week, 6 cents less than last month and 20 cents less than this time last year.

The national gas price average on Tuesday was $2.82, which is 1 cent less than last week, 6 cents less than a month ago and 14 cents less than this time last year, AAA reported.

Forty-two states and Washington, D.C., have gas prices that are less expensive year-over-year, with Floridians seeing the largest yearly change (-31 cents). Motorists in West Coast states are the exception, paying nearly double-digits more than last May to fill up.

“For the majority of the country, gas prices have declined by at least a nickel since the beginning of May,” said Stephanie Milani, Tennessee public affairs director for AAA, in a press release. “Stable crude oil prices are helping to push down prices at the pump despite robust demand. This is a trend that should continue into early June.”

Most expensive gas prices in the state

• Jackson ($2.59)

• Nashville ($2.59)

• Memphis ($2.55)

• Morristown ($2.51)

Least expensive gas prices in the state

• Chattanooga ($2.40)

• Cleveland ($2.40)

• Kingsport-Bristol ($2.48)

• Knoxville ($2.48)

What about oil?

At the close of Friday’s formal trading session on the New York Mercantile Exchange, West Texas Intermediate crude increased by 72 cents to settle at $58.63, AAA reported.

Market observers are awaiting OPEC’s meeting on June 25-26 in Vienna, where the cartel will likely decide to extend the production reduction agreement it has in place with its partners for the remainder of 2019.

To view daily gas price averages, visit www.GasPrices.AAA.com.

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