Getting your Trinity Audio player ready...

NASHVILLE – Over the past week, gas prices in Tennessee rose by an average of four cents, bringing the state average to $2.75 per gallon, according to AAA – The Auto Club Group. This price is still 11 cents lower than a month ago and 21 cents less than this time last year.

“Last week, our state gas price average jumped as high as $2.77 per gallon before settling at $2.75,” said AAA spokeswoman Megan Cooper. “Crude oil prices were relatively stable but slightly higher than late last month. Drivers can expect continued fluctuations at the pump this week.”

National Gas Prices

Despite a rare November hurricane in the Gulf, the national average for a gallon of gas dropped two cents from last week, now sitting at $3.08. The Energy Information Administration (EIA) reports a drop in gas demand from 9.15 million to 8.82 million barrels per day, while domestic gasoline stocks rose slightly to 211.3 million barrels.

Tennessee Regional Prices

• Most Expensive Metro Markets: Johnson City ($2.81), Nashville ($2.80), Jackson ($2.79)
• Least Expensive Metro Markets: Morristown ($2.66), Knoxville ($2.68), Kingsport ($2.70)

National Oil Market Dynamics

At the close of Wednesday’s session, WTI crude settled at $71.69 per barrel, with U.S. crude oil inventories increasing by 2.1 million barrels from the previous week.