Tennessee One of the Top States Hit with Biggest Weekly Increase in Gas Prices

 

The national average price for a gallon of gas rose last week to $3.48, four cents more than a week before, as The Tennessee Star previously reported.

The price of $3.48 is 18 cents more than a month ago and 98 cents more than a year ago, according to a press release by the American Automobile Association (AAA). The national average remains the highest price for a gallon of gas since 2014.

In Tennessee, the average price for a gallon of gas is below the national average at $3.27, according to AAA. Despite being below the national average, Tennessee’s average remains the highest in the state since 2014. One year ago, the national average for a gallon of gas was $2.51. In Tennessee, the average was $2.28 at the time.

Tennessee was one of the states that had the biggest increase in the price of a gallon of gas within the week, the press release notes. Prices at the pump increased by 12 cents on average.

These states also saw increases in their gas prices: New Mexico (+18 cents), Delaware (+15 cents), North Carolina (+12 cents), New York (+10 cents), Nebraska (+9 cents), Maryland (+9 cents), New Jersey (+9 cents), South Carolina (+8 cents), and Georgia (+8 cents).

According to new data from the Energy Information Administration (EIA), cited by the AAA, total domestic gasoline stocks dropped by 1.6 million barrels to 248.4 million barrels last week. A decrease in total stocks and increased demand have contributed to upward pressure on pump prices, but rising crude prices continue to play the dominant role in pushing pump prices higher. Gas prices will likely increase as demand grows and crude oil prices remain above $90 per barrel, AAA noted.

“More drivers fueling up here coupled with a persistent tight supply of oil worldwide provides the recipe for higher prices at the pump,” Andrew Gross, AAA spokesperson, said in a statement. “And unfortunately for consumers, it does not appear that this trend will change anytime soon.”

The nation’s top 10 most expensive markets, according to the AAA, include California ($4.70), Hawaii ($4.46), Washington ($3.95), Oregon ($3.94), Nevada ($3.89), Alaska ($3.80), Washington, D.C. ($3.71), Pennsylvania ($3.68), New York ($3.68) and Illinois ($3.66).

– – –

Kaitlin Housler is a reporter at The Tennessee Star and The Star News Network.