Tennessee gas prices hit close to $3 mark once again
Gas prices are going up in Tennessee, but it is still cheaper than it was last year.
In the last week, gas prices on average have gone up around 17 cents in the state, according to AAA. Many communities in Tennessee are flirting with the $3 range, and others — mostly in Middle Tennessee — have surpassed that mark. So, what is causing the increase? This shift in prices comes as seasonal demand trends higher along with higher costs for oil and routine refinery maintenance. AAA speculates that these reasons will slowly push pump prices higher soon.
Gas prices near me: Average prices in counties across Tennessee
Gas prices on average in Tennessee as of mid-february hit $2.99. Some communities are seeing higher prices others lower. Here's a look at some of the average prices in counties across the state according to AAA. h Davidson County: $3.07 h Knox County: $2.88 h Shelby County: $2.98 h Williamson County: $3.20 h Highest gas price on average in the state: Williamson County, $3.20
h Lowest gas price on average in the state: Henderson County, $2.95
Keep up with the latest average gas prices at gasprice.aaa.com.
For your local gas prices in real time, check out gasbuddy.com.
Gas prices in Tennessee: 2023 vs. 2024
Gas prices may be going up, but they are still cheaper than last year.
In February 2023, Tennessee gas prices on average sat at $3.17. Now the average price in the state is $2.99.
Higher gas prices: Higher demand, oil prices, summer months
As we head toward warmer weather the demand for gas usually increases.
According to new data from the Energy
Information Administration, gas demand increased from 8.14 to 8.81 million barrels per day last week. The higher gas demand and a tight supply have contributed to elevated pump prices, AAA reported.
If demand continues, those prices could climb even higher.
Reports last week from the EIA state that refinery oil processing was down slightly from 82.9 to 82.4 percent, signaling that winter maintenance increases ahead of the spring driving season will likely continue. This report was a catalyst in the rise of West Texas crude oil. As of Thursday, it was $78.14 for a barrel.