//AAA: Malaysian Airline Crash Pushes Oil Prices Higher

AAA: Malaysian Airline Crash Pushes Oil Prices Higher

Share with friends

Gas-Prices-Upward-GraphicTAMPA, FL – News that a Malaysian Airliner was shot down quickly put upward pressure on the price of oil. West Texas Intermediate closed the week at $103.13 a barrel on the NYMEX on Friday – an increase of $2.30 from last week.

The national and Florida average prices for a gallon of regular unleaded are 5 cents cheaper than last week and fell for the 23rd consecutive day on Sunday. Prices in Georgia and Tennessee fell 4 cents last week. Georgia prices are on a 27-day streak of declines.  Tennessee prices fell for the 25th consecutive day.”Oil rose on concerns that violence could spread in response to the crash,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “Gas prices are currently falling more than a half cent a day, but geopolitical tension could slow the rate of discount at the pump this week.”

CURRENT AND PAST PRICE AVERAGES

Regular Unleaded Gasoline

Sunday Saturday Week Ago Month Ago Year Ago
National $3.578 $3.584 $3.617 $3.679 $3.672
Florida $3.506 $3.514 $3.558 $3.612 $3.624
Georgia $3.479 $3.483 $3.523 $3.596 $3.545
Tennessee $3.358 $3.363 $3.400 $3.466 $3.448

Source: AAA