Residents and visitors are feeling squeezed at the pump as Tennessee gas prices continue to rise.
Tennessee isn’t usually thought of as an expensive state. However, when it comes to Tennessee gas prices. some residents are feeling the burn. Gas prices in Tennessee rose 1.5 cents last week. At this point in the summer, this is the most expensive summer gas prices the state has seen since 2014.
Dating back to June 1st, gas prices have averaged around $2.64 per gallon. This may not seem like much but it’s nearly 60 cents per gallon more than the average price in Tennessee last summer.
“Reduced global oil supplies have caused summer travelers to pay a higher price at the pump this year,” said Mark Jenkins, AAA spokesman, in a press release. “Fortunately, domestic gasoline production remains strong, which should help prevent major swings in summer gas prices.
Most expensive Tennessee gas prices in the state
• Jackson ($2.67)
• Nashville ($2.65)
• Memphis ($2.65)
Least expensive gas prices in the state
• Clarksville-Hopkinsville ($2.55)
• Knoxville ($2.56)
• Johnson City ($2.57)
Location, Location, Location
Depending upon where you live, that $2.64 is either a lot or a little. The reason? Location. Each state has the power to levy excise taxes on gasoline at will. Some states such as California tack on a whole lot. Other states use gasoline taxes to make up for revenue lost by not having a state income tax. Tennessee does not have a traditional state income tax. Wages are not taxed as they are in other states although there are taxes on capital gains and investments.
Around the country, costs vary. Whether it’s the price of gas, housing, or your local tax burden. Thankfully, City vs City accounts for all these factors and more when calculating cost of living.
City vs City uses real, local data to determine the true cost of living in your area. Compare your costs with another city of your choosing to see which one comes out ahead. If you’re thinking of moving, don’t make a move without downloading City vs City first.