Tennessee gas prices to hit three-year low

Posted at 2:02 AM, Dec 28, 2018
and last updated 2018-12-28 03:02:43-05

NASHVILLE, Tenn. (WTVF) — Nearly two out of three gas stations in Tennessee are selling gas for below $2 a gallon right now, according to AAA.

The auto club reported Friday morning that gas prices are expected to have their lowest start to the New Year in three years.

Since mid-October, AAA reports the national average has gone down by 61 cents to $2.29 a gallon.

The average prices for a gallon of regular in Tennessee is now $2.03. On New Year's Day of 2018, the average price in Tennessee was at $2.13 a gallon.

"Prices at the pump declined as AAA projected last week, largely due to weakness in the stock market and concerns about global crude oversupply," said AAA Spokesman Mark Jenkins, in a news release. "Although oil and gasoline futures have been on a rollercoaster ride this week, wholesale gas prices have held steady. Unless oil prices suddenly spike, prices at the pump should remain low through the end of the year."

The most expensive gas is found in Nashville, where drivers are paying about $2.14 a gallon. The least expensive gas can be found in Chattanooga for $1.87.