Americans are finding some of the most expensive gas prices in years. Here in the 'Boro, some discounters started the week with regular gas at $2.48 per gallon. That is unchanged from the previous week. national average of $2.76 per gallon is the highest daily average since July 2015.
|Summertime Gas Prices (June-August)|
Tennessee gas prices set a fresh new 2018 high. state average of $2.55 is the highest since September, when prices were recovering from hurricanes Harvey and Irma.
The average price in Tennessee is 3 cents more than a week ago and 37 cents more than this time last year.
- The most expensive gas price averages in Tennessee are in Kingsport-Bristol ($2.59), Morristown ($2.58), and Nashville ($2.57)
- The least expensive gas price averages in Tennessee are in Chattanooga ($2.48), Murfreesboro ($2.48), Memphis ($2.51), Clarksville-Hopkinsville ($2.52)
- Tennessee ranks 11th among states with the lowest gas prices
- It costs $38 to fill an average-sized tank of gasoline in Tennessee
- Tennessee motorists pay $6 more for a full tank of gas, compared to this time last year
"High oil prices are the main reason gasoline is so expensive right now," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "The price of oil is about 25% more than last year, as what used to be a global supply glut, is now tightening. Now the added expense for oil is making it more expensive to produce gasoline. In addition, gasoline demand is strong and inventories are down, as refineries wrap-up their maintenance season and begin pushing out summer-blend gasoline. So there are currently a number of factors keeping upward pressure on gas prices.
"If we haven't already, gas prices will hit their annual peak within the next couple weeks," Jenkins continued. "However, unforeseen circumstances like escalating geopolitical tensions or a hurricane in the Gulf of Mexico would cause prices to surge. Unfortunately, oil prices could still remain elevated heading into the summer travel season. Which means, travelers will likely find the most expensive summer gas prices ."
- Oil prices are $15/b higher than this time last year
- Half the price of gasoline is determined by the price of oil
- Oil prices are higher than a year ago due to strong global demand and reduced supply glut
Gas Price Tools for Reporters/Consumers
- GasPrices.AAA.com - Daily national, state, and metro gas price averages.
- AAA Mobile app - Free app that shows current prices at a gas station near you.
Highs and Lows of 2018
- National: the highest average price for gasoline was $2.76 on April 22; the lowest was $2.49 on .
- Florida: the highest average price was $2.74 on April 20; the lowest was $2.44 on .
- Georgia: the highest average price was $ on April 21; the lowest was $2.35 on .
- Tennessee: the highest average price was $2.55 on April 22; the lowest was $2.26 on .
CURRENT AND PAST PRICE AVERAGES
|Week Ago||Month Ago||One Year Ago||Highest Price on Record|