Tennessee Gas Prices Plateau, Fall Forthcoming?

NASHVILLE, TN -- The federal government shocked the petroleum market with a report indicating that crude oil inventories were much higher than expected, sending the price of oil plunging, signaling that relief may be on the way for Tennessee drivers facing some of the highest pump prices in years.

Late last week, the Energy Information Administration reported an increase of 5.7 million barrels in American crude oil inventories, driven by a decline in exports, an increase in imports and record-breaking production. As a result, crude futures fell as OPEC and Russia indicated they may ratchet up exports.

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This is good news for drivers who are dealing with some of the highest prices since 2014, with the average gallon of regular unleaded setting Tennesseans back $2.72, according to AAA. Price have started to stabilize coming out of the long weekend; that's another indicator that lower places are coming soon.

The average price in the Nashville area is $2.76 per gallon, with the lowest prices in the region continuing to be in counties northwest of the city: Cheatham, Dickson and Montgomery.

The lowest per-gallon prices in Tennessee are in the Tri-Cities at $2.65.

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