Gas prices increase over the week

Johnson City Press • Updated Jan 28, 2019 at 3:32 PM

Gas prices in Tennessee have risen a little over 3 cents in the past week, according to a report released by GasBuddy analysts Monday.

Compared to Monday’s national average gas price of $2.26 for a gallon of regular unleaded gas, Tennessee’s average stood at $2.05. Price averages in Johnson City were at $2.02, while Kingsport and Bristol were near $2.

The recent rise is due to various factors, according to analyst Patrick DeHaan.

"The national average saw limited upward movement in the last week, while the lowest price stations overall were the locations that saw prices tick higher,” DeHaan said in an emailed news release.

“The percent of gas stations in the U.S. selling under $2 per gallon fell from 37 percent to 27 percent over the last week as oil prices hold above $53 per barrel.

“We're also starting to see early refineries begin seasonal maintenance, which may aid prices moving higher in the weeks ahead. Part of where gas prices go from here and how quickly depends on whether or not politicians can make a long-term budget agreement.

“Another prolonged shutdown will hurt the economy and likely keep gas prices more muted. In addition, watch for any progress of a broad trade deal with China.

“Even the sub-zero temperatures upcoming in many areas could play a role in gasoline prices, diesel prices and heating oil: it may keep Americans at home, using more heavy oils to heat their home."

Average gasoline prices Jan. 28 in Tennessee have ranged widely over the last five years: $2.39 per gallon in 2018, $2.07 in 2017, $1.61 in 2016, $1.88 in 2015 and $3.08 in 2014.

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