The average per-gallon price of regular gas in Nashville on Sunday was $3.16, up seven cents from the mark of a week ago and down four cents from the $3.20 figure from a month ago, according to AAA.
Relatedly, Tennessee's mark was $3.14 Sunday, up eight cents compared to the price from the previous week.
The cost for a barrel of oil closed last Friday at about $95 on the NYMEX. U.S. oil inventories recently rose by 375,000 barrels for a total of 389 million, according to the Energy Information Administration.
Louisiana and Texas refineries that supply the Gulf Coast are in the midst of production problems that cut output capacity, according to AAA. The maintenance issues are directly affecting pump prices in Southeast states. The increase in price pushed Florida in the red zone as one of the state’s with the nation’s highest gas prices.
"The holiday budget for many Americans just got tighter," said Jessica Brady, AAA spokeswoman, The Auto Club Group. "At first, it looked like millions of motorists would enjoy some of the lowest gas prices of the year during their Thanksgiving road trips.
Unfortunately, that won’t be the case. The good news is the spike in pump prices should be temporary. Once Gulf Coast refineries return to full production, drivers should see gas prices move back on a downward path."
Nationally, the average price of regular unleaded gasoline was $3.28 as of Sunday, seven cents more than the figure as seen the previous Sunday.
For comparison with Tennessee’s average of $3.14, Georgia’s average price for a gallon of regular gas was $3.26 yesterday, an increase of seven cents compared to the mark of the previous Sunday. Florida's average of $3.41 represented a rise of an eye-catching 18 cents.