Texas storm pushes gas prices  higher

Tennessee gas prices have risen 11.4 cents per gallon in the past week, averaging $2.36/g today, according to GasBuddy’s daily survey of 3,821 stations in Tennessee.

Gas prices in Tennessee are 18.6 cents per gallon higher than a month ago and stand 16.1 cents per gallon higher than a year ago.

According to GasBuddy price reports, the cheapest station in Tennessee is priced at $2.09/g today while the most expensive is $2.69/g, a difference of 60.0 cents per gallon.

The national average price of gasoline has risen 10.4 cents per gallon in the last week, averaging $2.63/g today. The national average is up 24.2 cents per gallon from a month ago and stands 15.1 cents per gallon higher than a year ago.

“With last week’s extreme cold shutting down millions of barrels per day in refinery capacity, gas prices have seen their largest weekly climb in quite some time,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “The jump in price was the result of a dozen or so refineries, primarily in Texas, that were forced to shut down as the frigid temperatures threatened to wreak havoc on their exposed equipment.

“With the cold weather behind us, price increases show begin to slow later this week or next week, and so long as these refineries get back online in short order, we may see gas prices start to move back down in the next couple of weeks. However, as we near spring weather, we’ll likely see another longer term rise in prices begin as refineries start to transition to summer gasoline, so motorists shouldn’t jump for joy just yet.”