Tennessee Gas Prices Set Record High, But Still Below National Average

Image Credit: Pixabay

The Center Square [By Jon Styf] –

The average price-per gallon of unleaded gasoline in Tennessee reached a record high $4.13 on Tuesday, a cent higher than the previous record set in March, according to the American Automobile Association.

Nashville ($4.16), Memphis ($4.15) and Johnson City ($4.15) also set records on Tuesday while the national average was a record high $4.37.

Megan Cooper, the Tennessee Public & Government Relations Consultant for AAA, said that several factors are influencing the price, including a tightening of global oil supply with Russian sanctions and the anticipation of more Russian sanctions along with the volatility of oil prices, which last week jumped to $110 per barrel and were at $103 on Tuesday morning.

Cooper said that oil and gasoline futures also have increased over the past week, when then average price per gallon has jumped more than 20 cents. The average price was $2.72 a year ago.

As of Monday, Tennessee had seen one of the top 10 average price increases in the country over the past week at 18 cents.

*** Click Here to Support Conservative Journalism in Tennessee. We can’t bring your articles like this without your support!***

“We typically see a jump in demand heading into the summer driving season,” Cooper said. “We are expecting to see a healthy summer travel season, mostly due to the pent up demand that still exists in the travel industry.

“We don’t expect high gas prices to cause travelers to cancel their summer trips — however, with record high prices it is likely that gas prices will be top of mind and travelers may change some of their behavior to account for extra money being spent on gasoline — saving on accommodations, traveling closer to home, staying at their destination a shorter amount of time, etc.”


So how do this prices compare to previous records, including inflation?

“Keep in mind, when considering inflation, 2008’s #gasprices peak of $4.10/gal would be the equivalent of $5.36/gal today (using BLS calculator),” tweeted Patrick De Haan, head of petroleum analysis at Gas Buddy. “So the ‘pinch’ of today’s $4.36/gal still isn’t as bad as 2008.”

Another question, heading into the summer, is whether the prices will remain at current levels in the coming months.

“Given the volatility in the market over the last couple of months it’s extremely difficult to forecast what prices will look like this summer — but it does look like higher gas prices are here to stay, at least in the short term,” Cooper said. “Additional fluctuation is expected, both in the short term and throughout this summer.”

About the Author: Jon Styf, The Center Square Staff Reporter – Jon Styf is an award-winning editor and reporter who has worked in Illinois, Texas, Wisconsin, Florida and Michigan in local newsrooms over the past 20 years, working for Shaw Media, Hearst and several other companies. Follow Jon on Twitter @JonStyf.

One thought on “Tennessee Gas Prices Set Record High, But Still Below National Average

  • May 11, 2022 at 4:21 pm

    REMEMBER this in November!!


Leave a Reply

Your email address will not be published. Required fields are marked *