Gas prices across the state reversed course and surged 12 cents higher over last week. The Tennessee Gas Price average is now $2.85 which is 10 cents more expensive than one month ago but 30 cents less than one year ago.  Current gas prices in Rutherford County are averaging $2.91 per gallon for regular unleaded.

"We're likely seeing the effects of crude oil prices wobbling higher in the form of gas price increases across the state," said Megan Cooper, spokeswoman for AAA - The Auto Club Group. "However, even with the increases we saw over last week, we're still seeing prices 30 cents less expensive than we were at this time last year." 

National Gas Prices - The national average for a gallon of gas popped three pennies higher to $3.20 since last week as large swaths of the country deal with severe back-to-back storm damage. Like Hurricane Helene, Milton will not severely impact national gasoline supplies but will affect demand in areas with destroyed infrastructure, flooded roads, and power outages.

Overseas, the tension between Iran and Israel continues, which is causing a slow wobbling in the price of oil but no steady upward movement.

According to new data from the Energy Information Administration (EIA), gas demand surged from 8.52 million b/d last week to 9.65. Meanwhile, total domestic gasoline stocks plunged from 221.2 million barrels to 214.9, while gasoline production increased last week, averaging 10.2 million barrels daily.    

Today’s national average for a gallon of gas is $3.20, a penny less than a month ago and 40 cents less than a year ago.

National Oil Market Dynamics - At the close of Wednesday’s formal trading session, WTI fell by 33 cents to settle at $73.24 a barrel. The EIA reports that crude oil inventories increased by 5.8 million barrels from the previous week. At 422.7 million barrels, U.S. crude oil inventories are about 4% below the five-year average for this time of year.

Tennessee Regional Prices 

• Most expensive metro markets - Nashville ($2.92), Jackson ($2.89), Clarksville ($2.89) 
• Least expensive metro markets - Morristown ($2.74), Knoxville ($2.76), Kingsport ($2.82)