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Sunday, December 22, 2024

Gas budget should rise $76.43 in June per average Tennessee driver

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The average Tennessee driver will pay $76.43 more at the pump in June 2022 than they did in June 2021, according to an analysis of gas prices from the AAA motor club and Federal Highway Administration (FHA) data by Volunteer State News.

Tennessee drivers will pay an average of $4.32 per gallon of regular gasoline this month versus $2.87 last year. This is a 50.7 percent increase equaling $1.45 per gallon.

Of the 10 Tennessee metropolitan areas analyzed, drivers in Jackson faced the largest price hike at the pump in the last year of $80.38. Knoxville was spared the worst pain, with the price of gas rising $72.86 from June 2021 to June 2022.

Gas prices across the US hit a seven-year high following a significant drop at the beginning of the COVID-19 pandemic.

The price of gas, derived from the cost of oil manufactured around the world, has the power to substantially change the free market and influence many industries.

A short-term outlook report from the US Energy Information Administration predicted gas rates will fall throughout 2022.

Tennessee drivers average 1,273.9 miles and use 52.6 gallons of gasoline per month, according to the FHA.

Tennessee gas price difference - June 2021 vs. June 2022

Market20222021CHG%Total increase
Jackson$4.37$2.84$1.5353.8%$80.38
Cleveland$4.32$2.81$1.5153.6%$79.33
Nashville$4.36$2.87$1.4951.9%$78.49
Chattanooga (TN only)$4.25$2.78$1.4853.2%$77.80
Kingsport-Bristol$4.34$2.90$1.4449.8%$76.01
Johnson City$4.39$2.95$1.4348.5%$75.38
Memphis (TN only)$4.33$2.89$1.4349.5%$75.38
Clarksville-Hopkinsville (TN only)$4.31$2.89$1.4349.3%$75.01
Morristown$4.29$2.90$1.3948.0%$73.22
Knoxville$4.26$2.88$1.3848.1%$72.86

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