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NASHVILLE — Tennessee gas prices increased by three cents on average over the past week, bringing the state’s average to $2.79 per gallon, according to AAA – The Auto Club Group. While prices are up from last week, they remain one cent lower than a month ago and 19 cents less than this time last year.

“Spring is just around the corner, which is when refineries typically begin the transition from winter to summer blend fuel. This usually brings a gradual uptick in gasoline prices,” said Megan Cooper, spokeswoman for AAA – The Auto Club Group. “Tennessee drivers can likely expect to see additional fluctuations in pump pricing this week. The good news, however, is that several parts of the state are seeing prices cheaper than both one month and one year ago.”

National Gas Price Trends

As refineries shift to summer blend fuel, a routine seasonal transition, gas prices have seen a slight increase. This week, the national average price for a gallon of gas rose to $3.16, reflecting a five-cent increase from a month ago but 12 cents lower than last year.

According to the Energy Information Administration (EIA), gasoline demand increased from 8.32 million barrels per day to 8.57 million, while total domestic supply dropped from 251.1 million barrels to 248.1 million. Despite this, gasoline production saw an increase last week, averaging 9.3 million barrels per day.

Additionally, an offline refinery in Northern California and ongoing seasonal maintenance have contributed to tightening supply, leading to potential price increases as warmer months approach.

Oil Market Update

At the close of trading Wednesday, West Texas Intermediate (WTI) crude oil fell $1.95 to settle at $71.37 per barrel. The EIA reported that U.S. crude oil inventories rose by 4.1 million barrels, bringing total stocks to 427.9 million barrels, which remains 4% below the five-year average for this time of year.

Tennessee Metro Gas Prices

Most Expensive Metro Areas:

• Jackson – $2.84
• Johnson City – $2.83
• Nashville – $2.81

Least Expensive Metro Areas:

• Clarksville – $2.69
• Chattanooga – $2.71
• Cleveland – $2.77