Multiple factors pushed the price for a barrel of oil to more than $100 last week. As a result, retail gas prices will likely move higher this week and into the New Year. However, many Murfreesboro discounters dropped regular gas 5-cents to $2.93 per gallon.
Oil prices jumped to $100 for the first time in two months after a government report showed supplies for oil, gasoline, and heating oil fell as demand increased. Crude inventories decreased by 4.8 million barrels, according to the Energy Information Administration. At the same time, U.S. refineries are operating at 93 percent capacity, the most since July. The value of the euro gained 1.5 percent on the dollar, increasing the appeal of crude oil as a commodity and helped to push prices higher.
The national average for a gallon of regular, unleaded gasoline is $3.31, 7 cents more than last week. Florida's average of $3.39 and Georgia’s average of $3.21 both increased 3 cents from last week. Tennessee's average of $3.11 rose 5 cents. However, some discounters in the 'Boro dropped prices a nickel to $2.93 per gallon.