The Great Smoky Mountain Journal
Source:
Tuesday, January 01, 2019 02:47 PM
AAA: Gas Prices To Rise Across East Tennessee Due To Syrian Conflict
The national average price for gasoline is the highest in more than two years. Sunday's average of $2.71 is the highest since July 2015. Tennessee gas prices are the most expensive since last September, when prices were recovering from Hurricane Irma. Sunday's state average of $2.52 is 6 cents more than last week, and 34 cents more than last year. Visit GasPrices.AAA.com for today's state average.
The most expensive gas price averages in Tennessee are in Nashville ($2.56), Cleveland ($2.53), and Jackson ($2.52)
The least expensive gas price averages in Tennessee are in Memphis ($2.46), Chattanooga ($2.47), and Clarksville-Hopkinsville ($2.49)
"Motorists should expect a 15 cent
increase at the pump in the short term," said Mark Jenkins, spokesman,
AAA - The Auto Club Group. "However, prices could rise even more,
depending on how the crude market responds to the latest news of a U.S.
missile strike over the weekend."
Crude prices rose more than $5 last week, which was the largest weekly
increase in more than eight months. Crude is climbing due to the
potential of U.S. sanctions against Syria's sponsors: Russia and Iran.
Syria has not exported oil since civil war broke out in 2011. However,
the country receives fuel deliveries from Iran.
Crude oil closed at $67.39 per barrel on Friday, the highest daily
settlement since December 2014. Wholesale gasoline prices responded in
kind, rising nearly 15 cents.
Fuel prices are once again vulnerable to conflict in the middle east,
because global supplies are tightening. The OPEC and Non-OPEC production
cut agreement is eliminating the global oil supply glut that led to
lower prices in recent years. OPEC expects the oil market to rebalance
in Q2 or Q3 of this year.
Highs and Lows of 2018
National: the highest average price for gasoline was $2.70 on April 13;
the lowest was $2.49 on January 3.
Florida: the highest average price was $2.68 on February 8; the lowest
was $2.44 on January 2.
Georgia: the highest average price was $2.61 on April 13; the lowest was
$2.35 on January 2.
Tennessee: the highest average price was $2.50 on April 13; the lowest
was $2.26 on January 1.
CURRENT AND PAST PRICE AVERAGES
Regular Unleaded Gasoline
Sunday Saturday Week Ago Month Ago One Year Ago Highest Price on Record
National $2.711 $2.707 $2.662 $2.527 $2.406 $4.114 (7/17/2008)
Florida $2.627 $2.625 $2.614 $2.517 $2.421 $4.079 (7/17/2008)
Georgia $2.638 $2.631 $2.575 $2.392 $2.289 $4.164 (9/15/2008)
Tennessee $2.517 $2.513 $2.460 $2.305 $2.176 $4.118 (9/15/2008)
Click here to view current gasoline price averages
Gas Price Survey Methodology
AAA updates fuel price averages daily at www.GasPrices.AAA.com. Every
day up to 130,000 stations are surveyed based on credit card swipes and
direct feeds in cooperation with the Oil Price Information Service (OPIS)
and Wright Express for unmatched statistical reliability. All average
retail prices in this report are for a gallon of regular, unleaded
gasoline.
About The Auto Club Group
The Auto Club Group (ACG) is the second largest AAA club in North
America. ACG and its affiliates provide membership, insurance, financial
services and travel offerings to over 9.5 million members across eleven
states and two U.S. territories including Florida, Georgia, Iowa,
Michigan, Nebraska, North Dakota, Tennessee, Wisconsin, Puerto Rico and
the U.S. Virgin Islands; most of Illinois and Minnesota; and a portion
of Indiana. ACG belongs to the national AAA federation with more than 58
million members in the United States and Canada and whose mission
includes protecting and advancing freedom of mobility and improving
traffic safety. Motorists can map a route, identify gas prices, find
discounts, book a hotel, and access AAA roadside assistance with the AAA
Mobile app for iPhone, iPad and Android. Learn more at AAA.com/mobile.
AAA clubs can be visited on the Internet at AAA.com.