MEMPHIS, Tenn. (localmemphis.com) – Prices at the pump are up again, this time because of air strikes in the Middle East. An attack on a Saudi Arabian oil facility is to blame for a price hike of nearly 15 cents in Tennessee.
“Yeah, that’s high and even with my .03 cents off it isn’t going to do me any good,” commented Karume Joyner who purchased gas near the airport area on Monday.
We can’t get anywhere without gas. So when the prices edge closer to three dollars in Memphis, drivers are taking notice.
“I was going to get gas in Collierville, and it was like $2.69 and I was like oh gosh no,” said driver Patricia Bahena.
“They’re skyrocketing,” said another driver Marcus Wallace. “One day they may be $2.13, the next day they’re $2.29, $2.30.”
AAA says prices are 13 cents more than last week and 9 cents more than a month ago.
As with anything, gas price hikes follow the law of supply and demand. Last week, oil supplies were threatened after an attack on the largest oil processing facility in the world was damaged after Iran launched air strikes. That created a ripple effect over 7,000 miles away in Memphis. Experts say gas prices will likely keep creeping up. Normally, they drop in the fall months.
“It’s nothing we can do about it. We have to have gas,” said Wallace.
AAA says if Saudi Arabia can get its oil production back online quickly, the price spikes might be temporary. In the meantime, keep your phone handy to research the lowest prices near you before you fill up.