Tennessee motorists saw a little relief at the pump over last week as gas prices fell three cents, on average, across the state. The Tennessee Gas Price average is now $3.06 which is nine cents cheaper than one month ago and $1.16 more than one year ago.
Pump prices continue to tumble as fears of a possible COVID-19 global economic slowdown pushed oil prices into the mid $60s per barrel—a price not seen since August. Also helping to ease upward pricing pressure was the decision by OPEC and its oil-producing allies not to cut production. The national average for a gallon of gas dipped 4 cents on the week to $3.35, which is seven cents less than a month ago but still $1.19 more than a year ago.