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Gas prices on the rise over past week

 

The Tennessee gas price average has increased nearly three cents this week after strong declines earlier this month.  The Tennessee Gas Price average  is now  $2.23 which is nearly three cents more than last week, 7 cents less than one month ago, and 4 cents more than one year ago. Tennessee is the 10th least expensive market in the nation.

Average prices for a gallon of regular unleaded in Coffee County are actually below the state average, with Coffee County prices at $2.19 a gallon as of Tuesday afternoon. The National average is $2.47.

“Gasoline prices are likely to fluctuate in the coming weeks, but not drastically, as the winter driving season nears its end and refineries undergo maintenance,” said Megan Cooper, spokesperson, AAA – The Auto Club Group. “This is the typical trend this time of year.”

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Contributing to the increase in pump prices was the decrease in gasoline stocks and maintenance at regional refineries. Stocks drew by 277,000 bbl down to 92.9 million bbl. That is the second lowest measured stock level for the region this year. However, the good news is the latest EIA regional refinery utilization report shows a 2% bump to 92%. This could help to increase stock levels in the week ahead and help minimize any further price fluctuation.

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