NASHVILLE, Tenn. (WKRN) – Gas prices have jumped nearly 18 cents across Tennessee over the last week, according to the AAA. The jump comes after a recent cyberattack on Colonial Pipeline caused the company to halt operations. The system stretches from Texas to New Jersey and provides gas for much of the southeast including about 45% of the East Coast’s gas.
The average price for gas in Tennessee is now $2.90, 19 cents more than one month ago (7.1%). It’s also $1.27 (78.3%) more than one year ago.
“The Southeast will continue to experience tight supply this week as terminals and gas stations are refueled,” said Megan Cooper, spokeswoman, AAA – The Auto Club Group.
Cooper also reported gas prices had started to stabilize over the weekend, but they are expected to fluctuate heading into Memorial Day weekend.
The release from AAA – ACG goes on to state that 87% of Tennessee gas stations have prices below $3 a gallon. Pump prices range from $2.67 (lowest 10%) up to $3.18 (highest 10%) for regular unleaded gas in the state.
Tennessee Gas Prices at a Glance
As of Monday, the average price for a gallon of regular unleaded gas in Nashville is $2.94.
- Up 7.5% from one week ago: $2.72
- Up 7.2% from one month ago: $2.74
- Up 68.3% from one year ago: $1.75
As of Monday, the average price for a gallon of regular unleaded gas in Knoxville is $2.89.
- Up 6.6% from one week ago: $2.71
- Up 8.4% from one month ago: $2.66
- Up 84.2% from one year ago: $1.57
As of Monday, the average price for a gallon of regular unleaded gas in Memphis is $2.90.
- Up 4.4% from one week ago: $2.77
- Up 5.6% from one month ago: $2.74
- Up 85.5% from one year ago: $1.56
As of Monday, the average price for a gallon of regular unleaded gas in Chattanooga is $2.82.
- Up 6.6% from one week ago: $2.64
- Up 5.1% from one month ago: $2.68
- Up 74.7% from one year ago: $1.61
To keep up with the average gas prices from across Tennessee, click here.
What to Expect for Memorial Day Weekend Travel
According to AAA, the national gas price average is the most expensive it’s been in six years at $3.04. The national average was expected to reach $3/gallon leading up to Memorial Day weekend until Colonial Pipeline’s shutdown caused the spike to hit a few weeks earlier.
The national average jumped eight cents. Some states like Georgia, North Carolina and South Carolina, saw prices jump as much as 21 cents in matter of days.
With the pipeline back in operation and supply being restored, AAA reported gas prices in those states and the national average have stabilized since the end of last week.
Motorists traveling for the Memorial Day weekend this month are expected to see the most expensive gas prices since 2014.
“This is going to be an expensive summer for motorists.,” stated Cooper. “However, we do not expect it to deter travelers from hitting the road. AAA finds that despite the higher pump prices, Americans still take their road trips but just may not travel as far as originally planned, or go to their planned destination and spend a little less.”