AAA: Gas prices remain steady

Tenn., (January 4, 2022) — Tennessee gas price average rose only by a penny in the past week. The Tennessee Gas Price average is now $2.99 which is 8 cents cheaper than one month ago.  

The average climbed to a high of $3.16 at the end of October due to the effects of hurricane Ida on oil refining and global supply concerns.

There is a lot of uncertainty about the potential economic impact of the COVID-19 omicron variant,” said Stephanie Milani, Tennessee Public Affairs Director, AAA – The Auto Club Group. “For now, it appears these higher gas prices will remain well into 2022. Motorists should expect continued instability at the pump as prices will likely ebb and flow based on news about the pandemic and its implications on global supply and demand.”  

Quick Facts

67% of Tennessee gas stations have prices below $3.00 

The lowest 10% of pump prices are $2.74 for regular unleaded 

The highest 10% of pump prices are $3.35 for regular unleaded

National Gas Prices

Gasoline prices barely budged over the past week, as fears of an omicron-driven economic “soft shutdown” dominate the news. Meanwhile, the pre-Christmas fire at the Exxon Mobil Corp plant in Baytown, Texas, is causing reduced output. Recent reporting, however, indicates the damage was to a non-refining section of the complex. The plant is the nation’s fourth-biggest oil refinery, with the capacity to process 560,500 barrels per day of crude. The national average for a gallon of gas remained at $3.28 on the week.

Motorists can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad, and Android. The app can also map a route, find discounts, book a hotel, and access AAA roadside assistance. Learn more at AAA.com/mobile.

Tennessee Regional Prices 

Most expensive metro markets – Memphis ($3.08), Morristown ($3.08), Jackson ($3.04)

Least expensive metro markets – Cleveland, ($2.86), Kingsport-Bristol ($2.89), Clarksville ($2.89)