"Whenever violence escalates in the Middle East as it has with Israel and its surrounding countries, oil prices are sure to increase," said Jessica Brady, AAA spokeswoman, The Auto Club Group. "The current conflict overseas means motorists may not see gas prices fall as much as recently forecast. Right now, tensions in the Mideast have increased concerns of oil supply disruptions in the region which have the potential to reverse the downward trends in both oil and gas prices.
“In the short term, Thanksgiving travelers shouldn’t see gas prices spike before the holiday, but instead may see prices remain relatively flat.”
However, economic news and fuel demand remain bleak in some of the world’s largest oil-consuming countries. If Mideast tensions are eased, motorists can expect gas prices to decrease as initially forecast throughout the end of the year.
A barrel of oil closed Friday at $86.67—60 cents more than the week prior.
The national average price of regular unleaded gasoline is $3.42, 2 cents less than last week. Florida’s average of $3.33 and Tennessee’s average of $3.15 both dropped 3 cents from last week. Georgia’s average price of $3.25 increased 2 cents from last week, respectively. Visit AAA’s Daily Fuel Gauge Report to find national, state, and local metro market retail gasoline prices.
Current and past gas price averages: National:
Current-$3.418
Last week-$3.439
Last month-$3.715
Last year-$3.384
Florida:
Current-$3.337
Last week-$3.367
Last month-$3.671
Last year-$3.388
Georgia:
Current-$3.245
Last week-$3.232
Last month-$3.583
Last year-$3.313
Tennessee:
Current-$3.151
Last week-$3.179
Last month-$3.485
Last year-$3.213
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