The average per-gallon price of regular gas in Tennessee was $3.33 as of Sunday, a three-cent rise compared to the figure from the previous week, according to AAA, The Auto Club Group.
In Nashville, the average per-gallon price of regular gas was $3.38 as of Sunday, a three-cent rise compared to the figure from the previous week. (See chart below.)
As of Sunday, the national average price was $3.61, a two-cent decrease. More specifically, and to compare to Tennessee, Georgia’s per-gallon average of $3.47 rose two cents.
Last week, motorists saw a slight increase in both oil and gas prices after President Barack Obama authorized support and arms for Syrian rebels, increasing tensions in an oil-saturated region, AAA reports.
The cost for a barrel of closed last Friday at $97.85 on the New York Mercantile Exchange — $1.82 more than the figure from the week prior, according to AAA.
Although Syria is not a major oil-producing country, it does boarder Iran and Iraq, which produce about one-fifth of OPEC's oil output. In addition, the value of the dollar fell last week, further spurring the increase in oil prices.
Other factors that led to the increase in crude costs were the U.S. Commerce Department's report that showed a three-month jump in retail sales in May and the fact that fewer jobless claims were filed than initially forecast by the Labor Department, AAA reports.
"Motorists shouldn't be surprised to see retail gas prices creep higher this week as tensions in the Mideast increase and create concerns of supply disruptions," said Jessica Brady, AAA spokeswoman. "Although pump prices are higher now than they were this time last year, the Energy Information Administration expects the summer average price for a gallon of regular retail gas to average $3.53, about the same as last year."
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