Gas Goes Up Four Cents

Average gasoline prices in Tennessee have risen 4.1 cents per gallon in the last week, averaging $3.09/g today, according to GasBuddy's survey of 3,821 stations in Tennessee. Prices in Tennessee are 3.8 cents per gallon lower than a month ago and stand 117.4 cents per gallon lower than a year ago. The national average price of diesel has fallen 1.3 cents in the last week and stands at $3.79 per gallon.

According to GasBuddy price reports, the cheapest station in Tennessee was priced at $2.72/g yesterday while the most expensive was $4.05/g, a difference of $1.33/g. The lowest price in the state yesterday was $2.72/g while the highest was $4.05/g, a difference of $1.33/g.

The national average price of gasoline is unchanged in the last week, averaging $3.50/g today. The national average is down 8.4 cents per gallon from a month ago and stands 116.7 cents per gallon lower than a year ago, according to GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.

Historical gasoline prices in Tennessee and the national average going back ten years:
July 10, 2022: $4.27/g (U.S. Average: $4.66/g)
July 10, 2021: $2.86/g (U.S. Average: $3.14/g)
July 10, 2020: $1.91/g (U.S. Average: $2.20/g)
July 10, 2019: $2.45/g (U.S. Average: $2.76/g)
July 10, 2018: $2.60/g (U.S. Average: $2.87/g)
July 10, 2017: $2.00/g (U.S. Average: $2.25/g)
July 10, 2016: $2.01/g (U.S. Average: $2.23/g)
July 10, 2015: $2.51/g (U.S. Average: $2.76/g)
July 10, 2014: $3.42/g (U.S. Average: $3.63/g)
July 10, 2013: $3.27/g (U.S. Average: $3.50/g)

Neighboring areas and their current gas prices:
Chattanooga- $3.05/g, up 6.8 cents per gallon from last week's $2.99/g.
Nashville- $3.20/g, up 7.5 cents per gallon from last week's $3.13/g.
Huntsville- $3.08/g, up 1.2 cents per gallon from last week's $3.07/g.

"After declining going into July 4, average gasoline prices have struggled to find much momentum in either direction as the price of crude oil has continued to bounce around, digesting offsetting news on both sides of the scale: supply, which OPEC+ continues to try and tighten, and weak global demand as monetary policy restrains growth," said Patrick De Haan, head of petroleum analysis at GasBuddy. "I don't see much chance of a major break out of the tight range we've held since April, but there is rising risk for hurricane season and potential disruptions as major forecaster Colorado State University released its third forecast for 2023 hurricane season, showing a sharp uptick in the number of expected major hurricanes. Heading into the prime of summer gasoline demand, any disruptions, whether storms or unexpected outages and what might be a small challenge outside of the summer driving season, could be a larger problem, so there is some risk to gas prices going into the second half of summer."