The average per-gallon price of regular gas in Tennessee was $3.25 as of yesterday, unchanged compared to the figure from the previous week, according to AAA.
This ends the streak of 10 consecutive weeks that the state had seen prices, on average, dip.
In Nashville, the average per-gallon price of regular gas was 3.25 as of Sunday, unchanged compared to the figure from the previous week. (See chart below.)
As of Sunday, the national average price was $3.58, a six-cent per-gallon increase. More specifically, and to compare to Tennessee, Georgia’s per-gallon average of $3.44 rose two cents.
While retail gas prices remained relatively stable nationwide last week, oil prices fluctuated, according to AAA The Auto Club Group.
Crude prices took an upward path after a positive jobs report, but the price surge came to a halt after the value of the dollar rose against other currencies, AAA reported. Tensions overseas also countered the bearish fundamentals and have helped to keep oil prices elevated.
“Geopolitical tensions and hopeful economic news are keeping fuel prices elevated," Jessica Brady, AAA spokeswoman, The Auto Club Group, said in a release. “Fuel prices should be much lower based on the current state of supply and demand.”
U.S. output of crude oil rose again last week, pushing supplies to an 82-year high, according to the U.S. Energy Information Administration. Pump prices will likely continue the up-and-down price fluctuations as they have since the start of May, AAA said.
A barrel of oil closed Friday at $96.04 on the New York Mercantile Exchange — 43 cents more than the week prior.