AAA: MALAYSIAN AIRLINE CRASH PUSHES OIL PRICES HIGHER
TAMPA, Fla. (JULY 20, 2014) — News that a Malaysian Airliner was shot down quickly put upward pressure on the price of oil. West Texas Intermediate closed the week at $103.13 a barrel on the NYMEX on Friday – an increase of $2.30 from last week.
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“Oil rose on concerns that violence could spread in response to the crash,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “Gas prices are currently falling more than a half cent a day, but geopolitical tension could slow the rate of discount at the pump this week.”
The national and Florida average prices for a gallon of regular unleaded are 5 cents cheaper than last week and fell for the 23rd consecutive day on Sunday. Prices in Georgia and Tennessee fell 4 cents last week. Georgia prices are on a 27-day streak of declines. Tennessee prices fell for the 25th consecutive day.
CURRENT AND PAST PRICE AVERAGES
Regular Unleaded Gasoline
| Sunday | Saturday | Week Ago | Month Ago | Year Ago | |
| National | $3.578 | $3.584 | $3.617 | $3.679 | $3.672 |
| Florida | $3.506 | $3.514 | $3.558 | $3.612 | $3.624 |
| Georgia | $3.479 | $3.483 | $3.523 | $3.596 | $3.545 |
| Tennessee | $3.358 | $3.363 | $3.400 | $3.466 | $3.448 |
