Tennessee gas prices fell three cents over the past week, but drivers are still paying significantly more at the pump than they were a year ago.
The state’s average gas price is now $3.80 per gallon, according to AAA. That is 25 cents higher than a month ago and $1.19 more than this time last year.
Tennessee is now the seventh least expensive state in the nation for gas, AAA said. Drivers are paying nearly $57 to fill a 15-gallon tank, compared with about $39 a year ago. The difference adds nearly $18 to the cost of filling up.
“The three-cent drop is welcome, but gas prices are still putting pressure on family budgets,” said Megan Cooper, spokeswoman for AAA – The Auto Club Group.
Cooper recommended combining errands, comparing gas prices before filling up and keeping vehicles properly maintained to help save money on fuel. Nationally, the average price for a gallon of regular gasoline fell one cent over the past week to $4.28.
AAA said the shift to winter-blend gasoline, which costs less to produce, is helping bring prices down. However, crude oil prices nearing $100 per barrel are limiting larger declines. AAA also cited instability in the Strait of Hormuz as a factor affecting oil prices.
National gasoline demand increased from 8.40 million barrels per day to 8.98 million last week, according to the Energy Information Administration. Domestic gasoline supplies fell from 208.3 million barrels to 205.3 million barrels, while gasoline production increased from 9.23 million barrels per day to 9.75 million.
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