AAA: Tennessee Gas Prices Rise Four Cents

Gas prices across Tennessee increased four cents last week, bringing the state average to $2.55 per gallon. This is 11 cents higher than one month ago but still 21 cents lower than the same time last year, making Tennessee the eighth least expensive market in the nation.

AAA spokeswoman Megan Cooper said drivers are paying nearly a quarter less than last year. She noted that spring break and the switch to summer-blend gasoline typically push prices gradually higher in the coming weeks.

Nationally, the average price for regular gasoline rose three cents to $2.90 per gallon. Gasoline demand is down following recent winter storms, but prices remain below last year’s national average of $3.12.

Data from the Energy Information Administration shows domestic gasoline demand dropped from 8.75 million barrels per day to 8.15 million last week, while total gasoline supply increased slightly. Gasoline production averaged 9.0 million barrels per day, and U.S. crude oil inventories fell by 3.5 million barrels to 420.3 million barrels, about 4% below the five-year average. WTI crude closed Wednesday at $65.14 a barrel, up $1.93.

Tennessee’s most expensive metro markets are Nashville ($2.64), Cleveland ($2.61), and Jackson ($2.61). The least expensive are Morristown ($2.44), Knoxville ($2.46), and Clarksville ($2.46).