Oil prices hit a new low last week, further fueling the plunge at the gas pump. Gas prices in Tennessee dropped another 8 cents last week. At $2.42 per gallon, the state average is the lowest since March, and only 16 cents higher than this year’s lowest daily average price of $2.26 per gallon.
Thanksgiving gas prices in Tennessee will be slightly higher than last year. AAA is forecasting more than 1.2 million Tennesseans will travel for Thanksgiving. Of those, 95 percent will drive. By Thanksgiving Day, the state average should drop to $2.38 per gallon, which is only 8 cents more than last year’s holiday.
The national average price of a gallon of regular unleaded is $2.63.