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Tennessee gas prices 22 cents below year-ago level

Staff Report • Jun 4, 2019 at 1:30 PM

NASHVILLE — Prices at the pump are still falling, with no increases in sight.

Tennessee’s state average gas price is $2.48 per gallon for regular unleaded, making it the seventh lowest average in the nation, AAA reported. Monday’s average is 4 cents less than a week ago, 13 cents less than a month ago and 22 cents less than a year ago.

Monday’s national average is $2.81, 2 cents less than last week, 8 cents less than a month ago and 13 cents less than this time last year. Seven states, including Tennessee, have state averages less than $2.50.

Prices were even lower in Kingsport, where many gas stations were charging in the $2.35-$2.40 range Monday.

“Gas prices have been trending lower now for the past month, and there are no signs of pump prices changing gears toward more expensive for the summer season,” said Jeanette Casselano, AAA spokesperson, in a press release. “One major indicator supporting this forecast is the price of crude oil which last week dropped by $6 to $53/bbl (barrel), which is one of the lowest prices of the year.”

Most expensive gas prices in the state

• Jackson ($2.56)

• Nashville ($2.56)

• Memphis ($2.52)

Least expensive gas prices in the state

• Chattanooga ($2.35)

• Cleveland ($2.35)

• Kingsport-Bristol ($2.43)

What about oil?

At the close of Friday’s formal trading session on the New York Mercantile Exchange, West Texas Intermediate crude fell by $3.09 to $53.50, AAA reported.

Crude prices suffered a major loss last week — the largest in six months — after new trade tensions emerged between the U.S. and Mexico, a key U.S. trade partner and a major supplier of crude oil.

To view daily gas price averages, visit www.GasPrices.AAA.com.