BY DOUGLAS WATSON
MANAGING EDITOR
Both locally and nationally, gasoline prices have been rising sharply in recent weeks.
The Greeneville Sun's weekly survey of prices at 14 local gasoline stations of various brands and locations found the following change locally in the average price of a regular gallon of unleaded gas since mid-April:
On April 22, the average price here was $189.5 a gallon.
Two weeks later, on May 6, the average price here was $2.03.8
This Wednesday, May 20, the average price locally for a regular gallon of unleaded gas was $224.8
Approximately a year ago, in May 2008, the average price in Greeneville was $3.66.2 a gallon.
Currently, according to the American Automobile Association, the average price of a regular gallon of unleaded gas in Johnson City is $225.6, compared witrh $3.74.0 a year ago. In Kingsport the current average price is $2.24.9, compared with $372.1 a year ago. In Bristol, the current average price is $2,24.9, compared with $3.72.2 a year ago. And in Knoxville, the current average price is $2.18.9, compared with $3.08.8 a year ago.
Nationally, the American Automobile Association reported, that this Wednesday the new national average of unleaded gasoline was $2.33.4 a gallon.
According to AAA and the Oil Price Information Service, the average gas nationally on Wednesday was 27.6 cents a gallon more expensive than a month ago.
Gas prices are expected to continue to climb near $2.40 just before Memorial Day weekend as a drop in gasoline refinery activity forces pump prices higher.
OIL PRICES KEEP RISING
The Associated Press reported that oil prices climbed near $62 a barrel Wednesday ahead of a government report that was expected to show a drop in U.S. oil supplies for the second straight week.
Benchmark crude for July delivery climbed $1.57 to $61.67 a barrel on the New York Mercantile Exchange.
The Associated Press article said, "il prices are considered likely to remain at 19-year highs even though Americans are cutting back on spending.
"For weeks, government data have shown that the country's consumption of petroleum products has dropped to its lowest level in a decade."
Stephanie Milani, AAA public affairs specialist in Knoxville, said the latest gasoline price rises result from "the global economy showing signs of increasing energy demand," especially in China.
Also, she said, recent gas prices increases are caused by U.S. refineries switching over to producing summer blends of gasoline.
