Gas Prices Moving On Up

What happened? Gas prices have gone UP 31-cents here in Coffee County over the past 2-weeks, whereas other parts of the south only felt five to fifteen-cent increases.
A positive economic outlook, supply issues, refinery maintenance, and preparation for the summer fuel switch helped push oil prices closer to $100 a barrel on the New York Mercantile Exchange (NYMEX). As a result, gas prices increased at a faster rate than expected.
“Motorists can expect to see gas prices increase this month,” said Jessica Brady, AAA spokeswoman, The Auto Club Group. “Refineries have started to prepare for maintenance season and the switch from winter to summer grade gasoline. Refinery output has already seen a reduction. In addition, positive economic news has led to an increase in oil prices which also translates to higher prices at the pump.”
A barrel of oil closed Friday at $97.77 on the New York Mercantile Exchange— $1.89 more than the week prior.
The national average price of regular unleaded gasoline is $3.51, 16 cents more than last week. Tennessee’s average of $3.31 increased 13 cents from last week.
Most discounters in around Coffee County are offering regular gas at $3.25-$3.31 per gallon. Two weeks ago prices were $2.94 so that’s an explosion of at least 31-cents.