Gas prices take a slight dip in Tennessee

Average gasoline prices in Tennessee have fallen just more than 1 cent per gallon in the last week. A news release states the slight decrease makes gas prices average $3.62 per gallon today after GasBuddy's survey of 3,821 stations. Prices in the state are also 9.2 cents per gallon lower than a month ago, but stand 87.8 cents per gallon higher than a year ago. "Average gasoline prices moved higher in the majority of states over the last week, with fewer than 10 states seeing declines, while diesel surged nearly 17 cents per gallon nationally, leaving it less than 25 cents away from an all-time record high," said Patrick De Haan, head of petroleum analysis at GasBuddy. "Gasoline, while not at all-time records, is at its highest level ever recorded this late in the calendar year, meaning Americans could for the first time ever see a national average price of gasoline above $4 per gallon on Labor Day — eclipsing the previous record of $3.83 per gallon set in 2012." According to GasBuddy reports, the cheapest station in Tennessee was priced at $3.14 per gallon on Sunday while the most expensive was $4.79 per gallon. The national price of diesel stands at $5.58 per gallon, an increase of 16.6 cents compared to a week ago. The report also states the national average price of gasoline has risen almost 3 cents per gallon in the last week, averaging $4.05 per gallon today. The national average of gas is also down 5 cents per gallon from a month ago, but stands 92.6 per gallon higher than a year ago. "While some oil shipments are apparently getting through the Strait of Hormuz, the dominant force propping up both gasoline and diesel prices is increasingly the growing loss of Russian refinery capacity, as continued Ukrainian attacks knock more facilities offline and constrain the global supply of refined fuels," said De Haan. "Until that refining supply picture improves, both gasoline and diesel prices face continued upward pressure."