Tennessee motorists are now paying an average price of $2.22 per gallon of regular unleaded gas, marking a 19-cent increase from this time last month. In Johnson City, Monday’s average price stood at $2.21 per gallon.
The national gas price average has increased nearly 20 cents since the beginning of the year, which is the largest jump during the January-February timeframe since 2015, according to AAA analysts. Today’s national average of $2.42 is still about 10 cents less than this time last year.
“Pump prices have been pushed higher this week due to reduced gasoline stock levels and increased demand,” AAA spokeswoman Jeanette Casselano said. “Motorists can expect gas prices to continue to increase as refineries gear up for spring gasoline production and maintenance season.”
Moving into this week, crude prices may rise due to optimism that the United States and China are closer to a deal resolving ongoing trade tensions.
The ongoing tightened oil supply that came as a result of OPEC’s production reduction agreement and decreased crude exports from Venezuela and Iran could also help push prices higher.
For more information on local, state and national gas price trends, visit www.gasprices.aaa.com.