March 6, 2022
By: Dwayne Page
A surge in gas prices has the price tag for regular fuel at almost $4 per gallon at gas stations across Smithville as of Sunday morning, March 6.
Most convenience stores in the Smithville area have unleaded gas prices at $3.99, up from $3.69 only a few days ago. No Ethanol gas is as high as $4.29 a gallon and diesel fuel is now $4.99 a gallon.
AAA reports the prices will likely worsen before they get better as sanctions and regulations have essentially removed Russia from the global oil market. Since Russia invaded Ukraine, gas prices in Tennessee have gone up more than 30 cents.
“The Russia-Ukraine conflict has intensified what was already a global oil market that was tight on supplies,” said AAA spokesperson Megan Cooper. “Sanctions and regulations have effectively removed Russian oil from the market. Prices accelerated Wednesday, when OPEC and its allies announced that they would not ramp up production beyond the modest increases previously planned.”
As of Friday, Tennessee’s average gas price was about 17 cents cheaper than the national average. California had the most expensive gas with an average price of $5.07 per gallon.