Tennessee Gas Prices Fall as Crude Oil Prices Shift Lower

Tennessee's gas prices have taken a small dip in recent days, falling by three cents since last week. According to Megan Cooper, spokeswoman for AAA - The Auto Club Group, this decrease is attributed to a slight drop in crude oil prices over the past week.

The average price of a gallon of gas nationally has also decreased, now sitting at $4.09, which is two cents lower than last week's figure. However, oil prices remain unchanged at $80 per barrel due to instability along the Strait of Hormuz.

The Energy Information Administration (EIA) reports that gasoline demand increased last week from 8.94 million to 9.04 million barrels per day, while total domestic gasoline supply remained flat at 211.3 million barrels. Gasoline production also saw an increase, averaging 9.9 million barrels per day.

In Tennessee specifically, the most expensive metro markets are Jackson ($3.80), Memphis ($3.74), and Kingsport ($3.69), while the least expensive are Clarksville ($3.44), Chattanooga ($3.75), and Knoxville ($3.62).