RUTHERFORD COUNTY, TN - Gas prices across the state remained steady compared to last week. This consistent pricing means that Tennessee is starting this week with the same average price as last week. Right now, Tennessee’s Gas Price average remains at $2.70 per gallon, which is five cents less expensive than one month ago and 49 cents less than one year ago.
The Volunteer State has climbed the ranks for gas prices, placing Tennessee at number 3. In the top spot, drivers will find Mississippi, where gas is priced at $2.66 per gallon. As for diesel, Tennessee doesn’t fare quite as well, landing in the number 15 position with an average price of $3.35 per gallon. The least expensive diesel can be found in Oklahoma, where it’s priced at $3.09 per gallon.
Specifically in Rutherford County: In Rutherford County, the average price for a gallon of regular unleaded is $2.65. East of Murfreesboro, in Woodbury, the average price for 87-octane fuel is $2.83 per gallon. South of Rutherford County, in Shelbyville, the average price for regular unleaded is $2.63 per gallon. North of the 'Boro, in Wilson County, drivers can expect to pay an average of $2.62 per gallon for regular-grade fuel. Meanwhile, in Nashville, the average price for regular unleaded is $2.74 per gallon. The highest price for regular unleaded can be found to the west of Rutherford County, in the Brentwood/Franklin area, where 87-octane fuel is priced at $3.09 per gallon.
Last week in Rutherford County, drivers were paying a whole 3-cents more per gallon for gas when the average price was $2.68 per gallon for regular unleaded.
Comparing Rutherford County to 94 Other Counties: When comparing county-to-county gas prices on Monday afternoon, it appears that Rutherford County is priced lower than almost 70 of the 95 counties throughout the state. Again, the average price per gallon for regular unleaded fuel in the Murfreesboro / Smyrna area is sitting at $2.65, as of Monday afternoon.
"Tennessee currently has the third least expensive state gas price average in the country," said Megan Cooper, spokeswoman, AAA - The Auto Club Group. "While gas prices across the state remain low, we're heading into a time of expected seasonal upward pressure on pump prices. Factors like refinery maintenance, increasing demand for gasoline, and the switch to summer blend gasoline typically keep upward pressure on pump prices throughout Spring."
National Gas Prices - After weeks of little movement, the national average for a gallon of gas increased by about five cents since last week to $3.12. Even though the price of crude oil remains below $70 a barrel, prices at the pump are going up as more refineries make the seasonal switch to summer-blend gasoline. Summer-blend gas is less likely to evaporate in warmer temperatures and is more expensive to produce.
According to new data from the Energy Information Administration (EIA), gasoline demand decreased from 9.18 b/d last week to 8.81. Total domestic gasoline supply decreased from 241.1 million barrels to 240.6. Gasoline production increased last week, averaging 9.6 million barrels per day.
Today’s national average for a gallon of gas is $3.12, two cents lower than a month ago and about 41 cents lower than a year ago.
National Oil Market Dynamics - At the close of Wednesday’s formal trading session, WTI rose 26 cents to settle at $67.16 a barrel. The EIA reports that crude oil inventories increased by 1.7 million barrels from the previous week. At 437.0 million barrels, U.S. crude oil inventories are about 5% below the five-year average for this time of year.
Tennessee Regional Prices
- Most expensive metro markets - Jackson ($2.77), Memphis ($2.77), Johnson City ($2.73)
- Least expensive metro markets - Chattanooga ($2.59), Clarksville ($2.61), Cleveland ($2.62)