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Gasoline Prices Rise Slightly

Posted

TENNESSEE (January 14) — Gasoline prices in Tennessee rose 2.4 cents per gallon in the past week, averaging $1.98/gallon yesterday, according to GasBuddy’s daily survey of 3,821 stations in Tennessee. This compares with the national average that has increased 0.5 cents per gallon versus last week to $2.24/g, according to GasBuddy.
Average gasoline prices on January 14 in Tennessee have ranged widely over the last five years:
$2.32/gallon in 2018, $2.12/gallon in 2017, $1.70/gallon in 2016, $1.93/gallon in 2015 and $3.11/galllon in 2014. 
Including the change locally during the past week, prices yesterday were 34.6 cents per gallon lower than a year ago and are 14.0 cents per gallon lower than a month ago. The national average has dropped 14.1 cents per gallon during the last month and stands 28.4 cents per gallon lower than a year ago.

Areas near Tennessee and their current gas price climate:
Chattanooga- $1.94/gallon, up 14.4 cents per gallon from last week’s $1.80/gallon.
Nashville- $2.07/gallon, down 0.4 cents per gallon from last week’s $2.07/gallon.
Huntsville- $1.93/gallon, down 2.2 cents per gallon from last week’s $1.95/gallon.
“With oil prices back over $50 per barrel, it looks like gas prices in more areas may soon bottom out and start to tick higher. While it doesn’t seem that prices will rise very far, it looks more and more like the lowest price of the year may now be behind us,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “The national average briefly hit $2.22 per gallon last week, but will likely move up slightly or stabilize this week. Gas prices in the Great Lakes saw a noticeable jump last week and tend to see among the earliest trend changes in the country, which may be a harbinger of what’s to come for the rest of us.”