The average per-gallon price of regular gas in Nashville on Sunday was $3.48, down three cents from the mark of a week ago and unchanged from the price of four weeks ago, according to AAA The Auto Club Group.
Relatedly, Tennessee’s average price was $3.47 Sunday, down three cents compared to the $3.50 figure from the previous week.
For comparison, the national average Sunday was $3.65, down from the $3.67 figure of a week ago.
"Motorists are finally getting that steady break in gas prices that we were anticipating," Mark Jenkins, spokesman for AAA The Auto Club Group, said in a release. "The discount at the pump is expected to continue, as prices are forecast to be in line with last year's levels by Memorial Day weekend.
Gas prices are falling because of record supplies, AAA reports. The Energy Information Administration estimates total U.S. crude oil production in April reached its highest monthly average since March 1988. The national average price for the month is forecast to be $3.72 per gallon. The EIA forecasts that monthly average to fall 21 cents by September.
"Last year, gas prices fell through June, then rose in July," Jenkins said. "This year, record U.S. crude inventories should put downward pressure on gas prices all summer. As always, natural disasters or supply disruptions could change that."
For comparison with Tennessee’s average of $3.50, Florida's average of $3.66 fell five cents from last week’s mark, while Georgia’s average of $3.64 dipped four cents.