Gas prices slide in Tennessee; still more than this time last year

Gasoline pump nozzle / vehicle fuels, Photo Date: 8/24/2007 / Pixabay / MGN

Gas prices edged lower last week. Sunday's national average price of $2.85 per gallon was one-tenth of a cent less than the week before.

However, the average American is still paying 27 cents per gallon more than this time last year.

Gas prices in Tennessee slipped a half-cent lower during the past week.
Sunday's state average of $2.58 is 1-cent less than a month ago.

However, Tennessee motorists are still paying 6 cents per gallon more than this time last year.

The most expensive gas price averages in Tennessee are in Jackson ($2.65), Nashville ($2.61), and Memphis ($2.61)

The least expensive gas price averages in Tennessee are in Chattanooga ($2.50), Clarksville-Hopkinsville ($2.51), and Cleveland ($2.52)

"Even though oil prices rose last week, prices at the pump slipped lower because of declines in gasoline demand," said Mark Jenkins, spokesman, AAA. "The latest figures from the EIA show weekly demand hitting 4-week lows. Combining this autumn trend with the recent switch to a cheaper-to-produce winter blend gasoline, and prices at the pump could move even lower this fall. However, upward pressure persists due to concerns that there could be major crude supply challenges this fall, due to US-led sanctions against Iranian crude and sharp reductions in economically-stressed Venezuela."