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Gas prices surge to 7-year high

WSMV Nashville logo WSMV Nashville 10/12/2021
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NASHVILLE, TN (WSMV) – Tennesseans are seeing a jump in gas prices, with the price-per-gallon up more than one dollar than this time last year.

This all comes as crude oil prices are surging to nearly $80 per barrel.

Nashville residents can expect to find gas as low as $2.93 and as high as $3.29, with the current average price sitting at $3.01, according to AAA.

The Nashville average is roughly 26 cents less than the national average, which has hit a 7-year high.

As is usually the case, the spike in prices are due to supply and demand.

AAA states that a big factor in the current increase is OPEC’s decision not to move forward with an agreement to produce 800,000 barrels per day; opting instead to maintain the previous agreement of 400,000 barrels per day.

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