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National Average Gas Price Expected to Fall Below $4

Posted 8/9/22

Average gasoline prices in Tennessee have fallen 16.1 cents per gallon in the last week, averaging $3.58/g today, according to GasBuddy’s survey of 3,821 stations in Tennessee.

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National Average Gas Price Expected to Fall Below $4

Posted

Average gasoline prices in Tennessee have fallen 16.1 cents per gallon in the last week, averaging $3.58/g today, according to GasBuddy’s survey of 3,821 stations in Tennessee. Prices in Tennessee are 72.2 cents per gallon lower than a month ago and stand 73.0 cents per gallon higher than a year ago. The national average price of diesel has declined 13.1 cents in the last week and stands at $5.14 per gallon.

According to GasBuddy price reports, the cheapest station in Tennessee was priced at $3.12/g yesterday while the most expensive was $4.90/g, a difference of $1.78/g. Tennessee is ranked fifth in a list of 25 states with the least expensive fuel prices.

The national average price of gasoline has fallen 15.8 cents per gallon in the last week, averaging $4.01/g today. The national average is down 68.7 cents per gallon from a month ago and stands 83.6 cents per gallon higher than a year ago, according to GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.

“The national average is poised to fall back under $4 per gallon as early as today as we see the decline in gas prices enter its eighth straight week. By the end of the week, one hundred thousand stations will be at $3.99 or less,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “Diesel continues to decline as well, and will likely soon fall under $5 per gallon. We’ve even seen nearly a dozen stations in low-priced states fall under $2.99, a welcome return to some lucky motorists in areas of Texas, Oklahoma, Kansas and Iowa. The groundwork is laid for a ninth week of decline, with areas of the West Coast soon ditching the $5 per gallon average. While I’m upbeat the drop can continue for another couple weeks, we’re starting to see some activity in the tropics, which may increase risk of potential disruption.”

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