Tennessee drivers are paying an average of $2.52 per gallon for regular unleaded, according to AAA. Monday's state average is 5 cents more than a week ago, 24 cents more than last month and 3 cents more than this time last year.
The national gas price average stands at $2.74, which is an increase of a nickel on the week and is 8 cents more than this time last year, AAA reported. As demand holds steady and inventories continue to tighten, motorists continue to see gas prices increase in every region.
“Gas prices are increasing across the country, but these changes vary by region,” said Jeanette Casselano, AAA spokesperson, in a press release. “On the week, motorists in the West Coast, Rockies, Great Lakes and Central regions are seeing some of the largest weekly increases while prices mostly east of the Mississippi have made more moderate jumps.”
Most expensive gas prices in the state
• Nashville ($2.57)
• Jackson ($2.56)
• Morristown ($2.52)
• Memphis ($2.52)
Least expensive gas prices in the state
• Cleveland ($2.44)
• Chattanooga ($2.46)
• Johnson City ($2.46)
• Kingsport-Bristol ($2.48)
What about oil?
Overall refinery utilization stands at 86 percent compared to 93 percent last year at this time, AAA reported. Unexpected and planned refinery maintenance continue to contribute to increasing gas prices.
At the close of Friday’s formal trading session on the New York Mercantile Exchange (NYMEX), West Texas Intermediate crude settled above $60 per barrel for the second consecutive week.
Oil prices climbed last week following strong U.S. economic data that reduced fears of a drop in global crude demand later this year, according to AAA.
To view daily gas price averages, visit www.GasPrices.AAA.com.