Crude oil prices initially tumbled more than $10 to $68 a barrel on Friday after news of the Omicron COVID-19 variant broke. Meanwhile, consumers caught a little break as the national average price for a gallon of gas dropped to $3.39, down a penny since last week.
“It’s too soon to tell if fears of a global economic slowdown caused by the Omicron variant will push oil prices lower for the long term,” said Andrew Gross, AAA spokesperson. “But for now, the upward pricing pressure due to tightened supply and high demand seems to have abated, and that will likely result in pump prices stabilizing.”
Today’s national average of $3.39 is a penny less than a month ago and $1.27 more than a year ago.
The average in Tennessee is currently at $3.09, which makes TN the 9th least expensive market in the nation to purchase gasoline. The price in Coffee County is $3.11, which is 2 cents higher than the state average and 28 cents below the national average.
The most expensive gas in the nation can be found in California, at $4.71.
