Similar to the past two years, retail gas prices are headed back up following Independence Day, the busiest summer holiday travel weekend. Here in Murfreesboro we saw discount prices increase a dime to $3.24 per gallon. The average over the Southeast was 11 cents. WGNS' Rafferty Cleary has more on the rising gas prices here in the Boro.
The jump in price was expected after a barrel of oil traded above $100 for more than two weeks. Tensions in Egypt along with positive economic news and a decrease in oil supplies pushed crude prices beyond a 12-month high.
"Gas prices are on the rise and will continue to follow the upward trend for the next few weeks," said Jessica Brady, AAA spokeswoman, The Auto Club Group. "This upward trend has occurred during the past two years and will likely happen again this year as demand for crude oil increases across the globe and geopolitical tensions remain.”
The cost for a barrel of oil closed last Friday at $105.95 on the NYMEX — $2.73 more than the week prior.
The national average price of regular unleaded gasoline is $3.60, 13 cents less than last week. Florida’s average of $3.54 and Georgia’s average of $3.45 both jumped 11 cents from last Sunday. Tennessee’s average of $ 3.35 increased 10 cents from last week. The 'Boro came out better with some discounters offering regular petro for $3.24.