Gasoline Prices Rise During Week

TENNESSEE (March 17) — Average gasoline prices in Tennessee increased 4.2 cents per gallon in the last week, averaging $2.68/g today, according to GasBuddy’s survey of 3,821 stations in Tennessee. Prices in Tennessee are 8.3 cents per gallon lower than a month ago and stand 38.6 cents per gallon lower than a year ago. The national average price of diesel has decreased 5.0 cents in the last week and stands at $3.558 per gallon.

According to GasBuddy price reports, the cheapest station in Tennessee was priced at $2.31/g while the most expensive was $4.11/g, a difference of $1.80/g. The lowest price in the state was $2.31/g while the highest was $4.11/g, a difference of $1.80/g.

The national average price of gasoline has fallen 1.3 cents per gallon in the last week, averaging $3.02/g today. The national average is down 10.6 cents per gallon from a month ago and stands 42.4 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: March 17, 2024: $3.06/g (U.S. Average: $3.44/g); March 17, 2023: $3.09/g (U.S. Average: $3.43/g); March 17, 2022: $4.06/g (U.S. Average: $4.28/g); March 17, 2021: $2.66/g (U.S. Average: $2.88/g); March 17, 2020: $1.96/g (U.S. Average: $2.19/g); March 17, 2019: $2.34/g (U.S. Average: $2.54/g); March 17, 2018: $2.33/g (U.S. Average: $2.54/g); March 17, 2017: $2.04/g (U.S. Average: $2.29/g); March 17, 2016: $1.81/g (U.S. Average: $1.96/g); March 17, 2015: $2.18/g (U.S. Average: $2.41/g).

“As concerns over tariffs and policy uncertainties grow, gas prices have continued to decline across much of the country, raising the possibility that the national average could slip below $3 per gallon and approach some of the lowest prices seen in years,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “However, this decline shouldn’t necessarily be celebrated, as it comes with strong warning signs. When the economy slows, gasoline demand drops— along with demand for other refined products like diesel and jet fuel. We’ve already seen some signals that the months ahead could be challenging. All of this suggests that gas prices are likely to remain low for now. However, if economic conditions improve, gas prices could eventually follow suit and start rising again.”

SOURCE GasBuddy