Gas Prices Rising Again
You have probably noticed that gas prices are beginning to inch upwards again, and this may be just the beginning. Saudi Arabia and other OPEC nations have announced they will cut back on oil production of up to 1.15 million barrels per day. The cutbacks would begin in May and continue until the end of the year. The relationship between the US and Saudi Arabia has soured since the Biden Administration took office, but the Saudi’s relationship with China has been growing.
The cutback in oil production could spell higher gas prices for the US. Right now the nationwide average for a gallon of regular is $3.51. Experts say that average could be north of $4 a gallon by the summer. Locally right now in Cocke County gas prices average about $3.15 a gallon. Cheapest gas prices are in Greene and Sevier counties with an average of $2.99. Hamblen County has the highest averaging $3.19 a gallon.
The average price in Tennessee is $3.20 as of this morning (4/4/23)according to the AAA.