(The Center Square) – Tennessee had the fourth-lowest average gas price in the country Friday at $3.38 per gallon, trailing just Mississippi ($3.27), Louisiana ($3.34) and Texas ($3.37).
Tennessee’s average price dropped 5 cents over the past week, more than 10 cents over the past two weeks but was 5 cents more than a year ago.
The national average is $3.80. The drops come despite a recent rise in the price of oil.
“Pump prices appear to be defying the odds at the moment, despite the surge in the cost of oil,” said AAA spokesperson Andrew Gross “This uneasy balancing act may last until we get beyond hurricane season and its threats to Gulf Coast oil and gas production and refining.”
The drop in Tennessee comes despite rising prices elsewhere.
GasBuddy Analyst Patrick De Haan pointed out this week the Midwest areas such as Minnesota, Missouri, South Dakota, Iowa, Kansas and Nebraska has seen a rise of 50 cents to 75 cents per gallon this week because of refinery issues in the area.
“Still piecing together exactly what’s gone wrong to cause a huge spike in #gasprices in Group 3 (corn belt states), but it involves more than 1 refinery, bad timing, and issues outside the region exacerbating it,” De Haan wrote on social media.
