Published: 9/14/2021


THE TENNESSEE GAS PRICE AVERAGE DECLINED SLIGHTLY OVER LAST WEEK, FALLING NEARLY TWO CENTS, ON AVERAGE. THE STATE AVERAGE IS NOW $2.89 WHICH IS NEARLY A PENNY MORE EXPENSIVE THAN ONE MONTH AGO AND 95 CENTS MORE THAN ONE YEAR AGO. 91% OF TENNESSEE GAS STATIONS HAVE PRICES BELOW $3.00. TENNESSEE MOVED TO THE 8TH LEAST EXPENSIVE MARKET IN THE NATION. WITH THE HEIGHT OF SUMMER IN THE REARVIEW MIRROR, MOTORISTS ARE SEEING SOME RELIEF AT THE PUMP, AS THE NATIONAL GAS PRICE AVERAGE DROPPED BY A PENNY ON THE WEEK TO $3.17. HOWEVER, THE RECOVERY FROM HURRICANE IDA REMAINS SLOW, WITH THE LATEST U.S. DATA SHOWING JUST UNDER HALF OF THE U.S. OFFSHORE OIL PRODUCTION IN THE GULF STILL IDLE. THE CONSTRAINT WOULD TYPICALLY LEAD TO HIGHER PRICES, BUT IT HAS BEEN OFFSET BY DECREASED DEMAND GOING INTO THE FALL. IN THE WEEK AHEAD, PUMP PRICES MAY BE IMPACTED BY TROPICAL STORM NICHOLAS, WHICH IS EXPECTED TO BRING HEAVY RAINS AND A STORM SURGE TO THE TEXAS COAST THIS WEEK. IF THE TROPICAL STORM PUTS ADDITIONAL REFINERIES OFFLINE, WE ARE LIKELY TO SEE PRICES INCREASE.