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Gas prices creep up by 4 cents in past week

Tennessee gas prices rose four cents, on average, over last week, marking the fourth straight week of increases at the pump. The Tennessee Gas Price average is now $2.23 which is 19 cents more than one month ago and a penny less than one year ago.

Prices in Coffee County are higher than the state average by 3 cents, at $2.26 per gallon. The national gas price average is $2.42.

Tennessee drivers found the lowest gas prices for the month of January since 2019. The monthly average for January was $2.15 per gallon, the most expensive month at the pump since February 2020. Last month’s state average was 19 cents less than January 2020 and 15 cents more than what drivers paid in January 2019.

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“Prices at the pump continue to increase due to sustained crude oil prices – despite a drop in demand and refinery utilization ,” said Megan Cooper, spokesperson, AAA – The Auto Club Group. “Prices could continue to increase over this week if crude oil pricing remains steady, however, pump price gains could be limited due to concern over new coronavirus infections and associated travel restrictions.”

Quick Facts

· 52% of Tennessee gas stations have prices below $2.25
· The lowest 10% of pump prices are $2.04 for regular unleaded
· The highest 10% of pump prices are $2.46 for regular unleaded
· Tennessee remains the 10th least expensive market in the nation
· Tennessee ranks 9th in the nation’s largest weekly increases

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