From Local 3 News: Gas prices are on the rise across the country. In Tennessee, the average price is $3.46 per gallon. AAA reports Cleveland, Tenn
From Local 3 News: Gas prices are on the rise across the country. In Tennessee, the average price is $3.46 per gallon. AAA reports Cleveland, Tennessee has the second highest gas prices in the state, right behind Nashville.
Gas prices have risen $0.21 in just one week. On Wednesday, at the Pilot gas station off the I-75 highway in Cleveland, gas was $3.59 per gallon for unleaded. Megan Cooper with AAA said since Monday, prices have increased every day this week, giving customers sticker shock at the pump.
“We’ve seen a lot of changes, very quickly across the state, with gas prices moving much more expensive,” said Cooper.
She said the most significant factor behind the recent surge in gas prices is the price of crude oil, “Over about the last five weeks or so, we’ve seen an increase of crude oil prices of about 15 percent.”
Cooper said last month it was $60 per barrel. Now we’re looking at about $80 per barrel. Anytime there’s an increase in crude oil, it trickles down to what you pay at the pump. The record-breaking heat has also caused a reduction in fuel output at Gulf Coast refineries adding to the pressure of pump prices.
While we may not see prices drop below $3, Cooper said they won’t be this high for long. “I think we have a couple more weeks before those gas prices start to normalize and start to plateau.”
