Tennessee's per-gallon gas price average increases 18 cents

The average per-gallon price of regular gas in Tennessee was $3.54 as of yesterday, an increase of 18 cents compared to the figure from the previous week, according to AAA.

In comparison, the national average price was $3.71, a 13-cent per-gallon increase. More specifically, and to compare, Georgia’s per-gallon average of $3.64 increased 17 cents.

In Nashville, the average per-gallon price of regular gas was $3.54 as of yesterday, a rise of 19 cents compared to the figure from the previous week. (See chart below.)

Currently, oil prices stand at $95.86 a barrel, 14 cents more than the mark from the week prior, AAA reports.

Retail gas prices recently surpassed year-ago levels, and motorists are now paying more for a gallon of gas than they did in 2012. Nationally, the average price for a gallon of regular retail gasoline is 13 cents more than this time last year.

Multiple factors have converged to cause both oil and gas prices to increase, according to AAA. A severe snowstorm in the Northeast, continued concerns over Iran's nuclear efforts and economic news have caused prices to move higher than initially forecast for this time of year, AAA reports.

"Motorists can expect gas prices to rise throughout March and into April,” Jessica Brady, AAA spokeswoman, The Auto Club Group, said in a release. "Although there are a few factors that could cause oil prices to stabilize this week, it's likely gas prices will increase. So far market trends and price fluctuations at the pump have been similar to 2011 and 2012, leading analysts to believe prices will peak in April before they retreat.”