Gas Prices Take Price Jump

NASHVILLE (February 28) - Average gasoline prices in Tennessee have risen 15.3 cents per gallon in the last week, averaging $3.43 per gallon Monday, according to GasBuddy's survey of 3,821 stations in Tennessee. Prices in Tennessee are 34.9 cents per gallon higher than a month ago and stand 96.3 cents per gallon higher than a year ago.

According to GasBuddy price reports, the cheapest station in Tennessee was priced at $2.67 per gallon Sunday, while the most expensive was $3.99 per gallon, a difference of $1.32 per gallon.

The national average price of gasoline has risen 7.5 cents per gallon in the last week, averaging $3.59 per gallon Monday. The national average is up 23.2 cents per gallon from a month ago and stands 87.6 cents per gallon higher 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 10 years:

February 28, 2021: $2.46/g (U.S. Average: $2.72/g)

February 28, 2020: $2.19/g (U.S. Average: $2.44/g)

February 28, 2019: $2.19/g (U.S. Average: $2.43/g)

February 28, 2018: $2.30/g (U.S. Average: $2.54/g)

February 28, 2017: $2.07/g (U.S. Average: $2.30/g)

February 28, 2016: $1.52/g (U.S. Average: $1.74/g)

February 28, 2015: $2.18/g (U.S. Average: $2.40/g)

February 28, 2014: $3.21/g (U.S. Average: $3.45/g)

February 28, 2013: $3.61/g (U.S. Average: $3.78/g)

February 28, 2012: $3.58/g (U.S. Average: $3.72/g)

Neighboring areas and their current gas prices:

Chattanooga - $3.44/g, up 12.9 cents per gallon from last week's $3.31/g.

Nashville - $3.51/g, up 19.0 cents per gallon from last week's $3.32/g.

Huntsville - $3.32/g, up 6.2 cents per gallon from last week's $3.26/g.

“The Russian invasion of Ukraine has sparked high level concern that oil production could eventually be stifled, or even sanctioned, from the world's second largest oil producer, leading to less supply as demand grows. That possibility has pushed up the national average price of gasoline considerably in the last week, and the situation could worsen at any time, keeping gas prices elevated for the foreseeable future," said Patrick De Haan, head of petroleum analysis at GasBuddy. "In addition to the unstable situation with the Russian invasion, we're also entering the time of year that seasonality pushes gasoline prices up by anywhere from 25 to 75 cents by Memorial Day. It's simply looking like a perfect storm for motorists at the pump, with little to no relief anytime soon."

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://prices.GasBuddy.com.