Commodities
Tennessee Gas Prices Rise Amid Soaring Crude Oil Costs
Tennessee gas prices rose by two cents over the past week, averaging $3.66 per gallon. According to Megan Cooper, spokeswoman for AAA - The Auto Club Group, elevated crude oil prices are putting upward pressure on prices at the pump.
The national average for a gallon of gasoline is now one cent lower than last week at $4.08, with little movement on the crude oil front due to continued volatility in the Strait of Hormuz. Oil prices remain in the $80 per barrel range.
Tennessee's gas prices are 89 cents higher than one year ago and four cents less than one month ago. The most expensive metro markets for gasoline are Jackson, Memphis, and Nashville, while Morristown, Clarksville, and Chattanooga have the lowest prices.