Tennessee Avoids Gas Price Spike

Tennessee (WDEF) – Triple A reports that fears of new tensions in Saudi Arabia and Libya sent gas prices shooting up in Florida last week.

Prices jumped ten cents a gallon briefly.

Luckily, that spike did not hit Tennessee and Georgia.

And Triple A experts don’t think it will. 

"The increase in oil came at a time when gasoline supplies in Florida are already tight," said Mark Jenkins, spokesman, AAA – The Auto Club Group.

"March is the peak month for gasoline demand in Florida, because the weather warms up, people drive more, and there are more visitors for spring break and Major League Baseball Spring Training. Plus, it is still maintenance season, and refinery gasoline output is reduced."

"This conflict shouldn’t continue affecting oil and gas prices unless there is an actual disruption in oil supply," said Jenkins. "The worst looks like it may be over for now as oil prices are now receding. However, gas prices usually rise faster than they decline, so it could take a week before pump prices begin falling again. The good news is that gas is still more than a dollar cheaper than last year’s peak prices, and not expected to reach $3 a gallon this year."

Prices in Georgia and Florida remained the same last week, ending several weeks of dropping prices.

And gas prices actually dropped half a cent last week in Chattanooga, according to the Gas Buddy survey.