Tennessee drivers got more good news at the pump this week. According to AAA, the state's average price for a gallon of regular unleaded fell nine cents over the past week to $3.71, the third weekly decline in a row.
That is 24 cents lower than a month ago, but it is still $1.07 higher than at this time last year. AAA says that difference works out to roughly $16 more to fill a 15-gallon tank, and the average Tennessee driver is paying about $55 per fill-up.
Jackson's number
Among the metro markets AAA tracks in Tennessee, Jackson ranked second most expensive at an average of $3.83 per gallon. Memphis was highest at $3.86, followed by Jackson and then Nashville at $3.70. The cheapest markets were Chattanooga at $3.50, Clarksville at $3.51 and Cleveland at $3.58.
Nationally, the average price of a gallon of regular fell 12 cents in a week to $4.22.
What the federal data shows
AAA's weekly report draws on new numbers from the Energy Information Administration. Gasoline demand fell last week from 8.98 million barrels per day to 8.38 million. Total gasoline supply rose from 205.3 million barrels to 209.2 million, and gasoline production slipped from 9.75 million barrels per day to 9.24 million. Crude oil is still expensive: West Texas Intermediate rose $2.88 to settle at $102.78 per barrel at the close of Wednesday's trading session. The EIA also reported that U.S. oil inventories fell by 1.9 million barrels to 410.6 million barrels, which is 4 percent below the five-year average.
Tips from AAA
AAA spokeswoman Megan Cooper said drivers can stretch each gallon no matter where prices go next by shopping around, keeping up with vehicle maintenance and driving in a fuel-efficient way.
AAA surveys up to 130,000 stations daily, using credit card transaction data and direct feeds from partners, and its averages are for regular unleaded. Prices can vary from one Jackson station to the next, so the metro average is only a guide.
Sources: WBBJ, AAA - The Auto Club Group, U.S. Energy Information Administration data as cited by AAA