Tennesseans are finding the lowest prices at the gas pump since April. The state average price for a gallon of regular unleaded is $2.56, which is 17 cents less than this year’s high, and 28 cents more than this time last year.
Gas prices continued their downward trek last week, declining another 5 cents. AAA spokesman Mark Jenkins said Tennesseans are saving 20 cents per gallon, compared to when gas prices peaked during Memorial Day weekend. Jenkins said gasoline is becoming less expensive to produce and sell, thanks to lower crude prices and cheaper-to-produce winter blend fuel. Motorists should see another round of discounts this week. However, fuel prices have the potential to reverse course based on any fluctuations in the stock market due to Election Day and the activation of U.S. sanctions against Iranian crude. Regardless, AAA believes the highest prices of the year are behind us.
The national average price of a gallon of regular unleaded is $2.77.