(MURFREESBORO) Tennesse gas prices rose 5 cents last week, and drivers should see additional increases this week. Here in the 'Boro, some discounters started the week with regular gas at $2.01 per gallon. That again placed Murfreesboro with the cheapest gas in the Volunteer State.
Crude oil and wholesale gasoline prices have surged to their highest levels since November. The large gains could soon drag the Tennessee state average up another 10 cents.
Tennessee gas prices are already at their highest levels, so far this year. Sunday's average price of $2.09 per gallon is up 12 cents, compared to this year's lowest daily average price of $1.97 - set during the second week of January. Despite the recent gains, the Tennessee state average remains 25 cents less than this time last year.
Click here to view AAA's state and metro gas price averages
- Most expensive gas price averages: Nashville ($2.14), Jackson ($2.12), Cleveland ($2.08)
- Least expensive gas price averages: Murfreesboro ($2.01), Johnson City ($2.02), Morristown ($2.03), Clarksville-Hopkinsville ($2.04)
"Oil and wholesale gasoline prices made significant gains last week, which will likely lead to higher prices at the pump," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "Prices rose after news that OPEC is making good on its promise to cut production, and reports of refinery issues at multiple plants in the northeast. One of the other key reasons for rising prices right now is refineries entering maintenance season. This is a time of year when refineries do 'spring cleaning' and to prepare for the switch to summer-blend gasoline. The process causes refineries to temporarily go offline, reducing the output of gasoline into the market."
On Friday, crude oil reached it's highest price since mid-November. The closing price of WTI was $55.59 per barrel on the NYMEX - an increase of nearly $3/b compared to the week before. That increase alone has the potential to carry a 7.5 cent jump at the pump. However, oil prices remain about $6/b less than the price this time last year; a primary reason that gas prices remain lower than last year. Meanwhile, RBOB rose 13 cents on the NYMEX last week, also reaching a 3-month high.
Gas Price Tools
- GasPrices.AAA.com - Daily national, state, and metro gas price averages
- AAA Mobile app - Free app that compares gas prices near you
- Gas Cost Calculator - Determine how much gasoline will cost on your next road trip
CURRENT AND PAST PRICE AVERAGES
|Sunday||Saturday||Week Ago||Month Ago||One Year Ago||2018 High||Record High|
|National||$2.312||$2.305||$2.278||$2.242||$2.533||$2.97 (5/26/2018)||$4.11 (7/17/2008)|
|Tennessee||$2.086||$2.075||$2.037||$2.001||$2.344||$2.73 (5/27/2018)||$4.12 (9/15/2008)|