Gas Prices Continue to Rise

NASHVILLE (October 11) - Tennessee gas prices have risen 12.0 cents per gallon in the past week, averaging $2.99 per gallon Monday, according to GasBuddy's daily survey of 3,821 stations in Tennessee. Gas prices in Tennessee are 13.0 cents per gallon higher than a month ago and stand $1.06 per gallon higher than a year ago.

According to GasBuddy price reports, the cheapest station in Tennessee was priced at $2.09 per gallon Monday while the most expensive was $3.49 per gallon, a difference of $1.40 per gallon.

The national average price of gasoline has risen 5.2 cents per gallon in the last week, averaging $3.25 per gallon Monday. The national average is up 7.5 cents per gallon from a month ago and stands $1.08 per gallon higher than a year ago.

Historical gasoline prices in Tennessee and the national average going back 10 years:

October 11, 2020: $1.92/g (U.S. Average: $2.16/g)

October 11, 2019: $2.34/g (U.S. Average: $2.64/g)

October 11, 2018: $2.68/g (U.S. Average: $2.90/g)

October 11, 2017: $2.31/g (U.S. Average: $2.47/g)

October 11, 2016: $2.12/g (U.S. Average: $2.25/g)

October 11, 2015: $2.02/g (U.S. Average: $2.31/g)

October 11, 2014: $3.00/g (U.S. Average: $3.21/g)

October 11, 2013: $3.15/g (U.S. Average: $3.33/g)

October 11, 2012: $3.55/g (U.S. Average: $3.81/g)

October 11, 2011: $3.21/g (U.S. Average: $3.39/g)

Neighboring areas and their current gas prices:

Chattanooga - $2.95/g, up 14.9 cents per gallon from last week's $2.80/g.

Nashville - $3.03/g, up 8.2 cents per gallon from last week's $2.95/g.

Huntsville - $2.95/g, up 9.6 cents per gallon from last week's $2.85/g.

"Last week saw oil prices advance to their highest in seven years, with a barrel of West Texas Intermediate crude oil surpassing the critical $80 per barrel level. The nation's gas prices were also pushed to their highest since 2014, all on OPEC's decision not to raise production more than it already agreed to in July," said Patrick De Haan, head of petroleum analysis for GasBuddy. "The OPEC decision caused an immediate reaction in oil prices, and amidst what is turning into a global energy crunch, motorists are now spending over $400 million more on gasoline every single day than they were just a year ago. The problems continue to relate to a surge in demand as the global economy recovers, combined with deep cuts to production from early in the pandemic. If Americans can’t slow their appetite for fuels, we've got no place for prices to go but up."

GasBuddy's survey updates 288 times every day from the most diverse list of sources covering nearly 150,000 stations nationwide, the most comprehensive and up-to-date in the country. GasBuddy data is accessible at http://FuelInsights.GasBuddy.com.