Rising gas prices could get worse - WKRN News 2

Rising gas prices could get worse

Posted: Updated: July 15, 2013 08:27 AM

Gas prices are on the upswing, and it may get worse.

The average price per gallon has gone up as much as 20 cents in some cities.

Nashville, at an average of $3.38 per gallon of regular gasoline, remains well below the national average of $3.61.

On Monday, some stations in the Metro area had prices as low as $3.21 per gallon of regular, including BP at Nolensville Pike and Edmondson Pike in south Nashville, Thornton's at Sam Ridley Parkway and Weakley Lane in Smyrna, and Sam's Club on Indian Lake Boulevard in Hendersonville.

AAA shows average prices have spiked $0.07 locally in the last week, but the gap is much wider across the state and the country with prices going up $0.12 and $0.14, respectively.

The increase comes after an almost continuous daily decrease in the last month.

Now, analysts are predicting an even bigger spike, with prices expected to go up another $0.10 to $0.20 in the next two weeks.

According to the U.S. Energy Information Administration, political turmoil in Egypt and fewer oil supplies are the catalysts for the changes, forcing wholesale prices to increase. The increased prices then get passed on to consumers.

Demand is also up, as July is the peak season for summer travel.

To find the cheapest fuel prices, click here.

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