Gasoline Prices Decrease During Week

TENNESSEE (December 2) — Average gasoline prices in Tennessee decreased 5.3 cents per gallon in the last week, averaging $2.63/g today, according to GasBuddy’s survey of 3,821 stations in Tennessee. Prices in Tennessee are 5.7 cents per gallon lower than a month ago and stand 24.8 cents per gallon lower than a year ago. The national average price of diesel has risen 1.1 cents in the last week and stands at $3.514 per gallon.

According to GasBuddy price reports, the cheapest station in Tennessee was priced at $2.29/g yesterday while the most expensive was $3.99/g, a difference of $1.70/g. The lowest price in the state yesterday was $2.29/g while the highest was $3.99/g, a difference of $1.70/g.

The national average price of gasoline has fallen 0.6 cents per gallon in the last week, averaging $3.00/g today. The national average is down 7.7 cents per gallon from a month ago and stands 23.2 cents per gallon lower than a year ago, according to GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.

Historical gasoline prices in Tennessee and the national average going back ten years:
December 2, 2023: $2.88/g (U.S. Average: $3.23/g); December 2, 2022: $2.98/g (U.S. Average: $3.39/g); December 2, 2021: $3.07/g (U.S. Average: $3.38/g); December 2, 2020: $1.88/g (U.S. Average: $2.17/g); December 2, 2019: $2.29/g (U.S. Average: $2.60/g); December 2, 2018: $2.20/g (U.S. Average: $2.43/g); December 2, 2017: $2.25/g (U.S. Average: $2.47/g); December 2, 2016: $1.99/g (U.S. Average: $2.17/g); December 2, 2015: $1.86/g (U.S. Average: $2.03/g); and December 2, 2014: $2.55/g (U.S. Average: $2.75/g).

“Millions took to the road for Thanksgiving, and while some regions, like the Great Lakes, saw gas prices rise just in time for travel, most of the nation saw prices hold mostly stable or decline slightly as the national average remains near the lowest level we’ve seen since 2021,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “The weeks ahead should feature slight drops in gas prices in most areas, with over 100,000 stations now offering a gallon for $2.99 or less, which should stick around through the holiday shopping season. While the potential impacts from tariffs are something to watch, they would have no effect until late January, if implemented at all. For this week, all eyes will be on the previously delayed OPEC+ meeting on Thursday. If they begin to restore oil production, oil prices could soften to the mid-$60s.”

SOURCE: GasBuddy