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Tennessee Gas Price Average goes up One Cent

Cost of Crude Oil is pushing Pump Prices Higher

AAANashville, TN – Tennessee’s gas price average rose a penny from last week. The Tennessee Gas Price average is now $3.03 which is two cents more than a month ago and 84 cents more than one year ago.   

“Gasoline prices continue to edge upward, driven primarily by the price surge in crude oil, which closed over $84.00 a barrel last week,” said Stephanie Milani, Tennessee Public Affairs Director, AAA-The Auto Club Group.  “As crude prices continue to climb, pump prices in Tennessee will likely follow suit.”

National Average Increases as Crude Prices Climb

The national average for a gallon of regular gasoline is one cent higher than last week at $3.31 today. According to data from the Energy Information Administration (EIA), total domestic gasoline stocks rose by 7.9 million barrels to 240.7 million barrels last week.

On the other hand, gasoline demand decreased from 8.17 million barrels a day to 7.91 million barrels a day. Winter weather and the COVID-19 omicron variant are the likely culprits behind this demand dip.

Typically, pump prices decline due to lower gas demand and a rise in total stocks, but continued growth in the price of crude oil has helped to elevate pump prices.

Tennessee Gas Price Averages 

(Price per gallon of regular unleaded gasoline) 

 

Monday

Sunday

Week Ago

Month Ago

One Year Ago

Tennessee

$3.028

$3.028

$3.023

$3.015

$2.188

Chattanooga

$2.963

$2.975

$2.991

$2.967

$2.137

Knoxville

$3.023

$3.022

$3.027

$3.027

$2.216

Memphis

$3.115

$3.108

$3.092

$3.076

$2.182

Nashville

$3.058

$3.058

$3.063

$3.026

$2.201

Click here to view current gasoline price averages

 


About AAA – The Auto Club Group

The Auto Club Group (ACG) is the second-largest AAA club in North America with more than 14 million members across 14 U.S. states, the province of Quebec, and two U.S. territories. ACG and its affiliates provide members with roadside assistance, insurance products, banking, and financial services, travel offerings, and more.

ACG belongs to the national AAA federation with more than 62 million members in the United States and Canada. AAA’s mission is to protect and advance freedom of mobility and improve traffic safety.

For more information, get the AAA Mobile app, visit AAA.com, and follow us on Facebook, Twitter and LinkedIn.

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