Gas Prices Hike Up Eight Cents

Average gasoline prices in Tennessee have risen 8.8 cents per gallon in the last week, averaging $2.76/g today, according to GasBuddy's survey of 3,821 stations in Tennessee. Prices in Tennessee are 2.0 cents per gallon higher than a month ago and stand 49.9 cents per gallon lower than a year ago. The national average price of diesel has fallen 0.5 cents in the last week and stands at $3.87 per gallon.

According to GasBuddy price reports, the cheapest station in Tennessee was priced at $2.21/g yesterday while the most expensive was $3.52/g, a difference of $1.31/g. The lowest price in the state yesterday was $2.21/g while the highest was $3.52/g, a difference of $1.31/g.

The national average price of gasoline has risen 4.5 cents per gallon in the last week, averaging $3.07/g today. The national average is down 4.1 cents per gallon from a month ago and stands 41.2 cents per gallon lower than a year ago, according to GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.

Historical gasoline prices in Tennessee and the national average going back ten years:
January 29, 2023: $3.26/g (U.S. Average: $3.49/g)
January 29, 2022: $3.08/g (U.S. Average: $3.36/g)
January 29, 2021: $2.22/g (U.S. Average: $2.42/g)
January 29, 2020: $2.22/g (U.S. Average: $2.48/g)
January 29, 2019: $2.02/g (U.S. Average: $2.27/g)
January 29, 2018: $2.39/g (U.S. Average: $2.58/g)
January 29, 2017: $2.07/g (U.S. Average: $2.26/g)
January 29, 2016: $1.61/g (U.S. Average: $1.81/g)
January 29, 2015: $1.88/g (U.S. Average: $2.04/g)
January 29, 2014: $3.08/g (U.S. Average: $3.27/g)

Neighboring areas and their current gas prices:
Chattanooga- $2.73/g, up 11.6 cents per gallon from last week's $2.61/g.
Nashville- $2.81/g, up 14.8 cents per gallon from last week's $2.66/g.
Huntsville- $2.82/g, up 1.5 cents per gallon from last week's $2.80/g.

"We've seen the national average price of gasoline bounce back up after cold weather related refinery shutdowns pushed up the wholesale price of gasoline. Plus, recent GDP data and new attacks in the Red Sea have pushed oil prices to their highest level since November," said Patrick De Haan, head of petroleum analysis at GasBuddy. "While prices have inched up and may continue to slowly rise, I believe the larger increases will be witnessed in a few weeks as we enter mid-February, lasting through April or May, during which the national average could rise 35 to 85 cents per gallon. Other issues and tensions could complicate how quickly prices rise or how high they go, so while the rise is not completely charted, it could deviate from our expectations."