Memphis had the most expensive gas prices among Tennessee’s metro markets amid a surge fueled by the conflict with Iran, according to AAA.
Average gas prices here Monday were $3.44, an increase of 4 cents from Sunday. The price is up about 40 cents from a week ago, about 88 cents from a month ago, and about 69 cents from a year ago.
Tennessee gas prices rose an average of 31 cents over the last week. Prices across the state average $3.34 per gallon, up 82 cents from a month ago and 63 cents more than a year ago.
“Continued uncertainty and volatility in the crude oil market are putting upward pressure on our local gas prices,” said Megan Cooper, spokeswoman for AAA – The Auto Club Group. “If crude oil prices remain elevated again this week, it’s likely drivers are in for more increases at the pump.
“How high prices will rise will ultimately depend on how long the conflict with Iran continues and whether there are further effects on global fuel supplies.”
Gas prices in other metro markets that follow Memphis on cost are Jackson ($3.42), Nashville ($3.34), Clarksville ($3.24), Morristown ($3.28), and Knoxville ($3.29).