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BY IVAN SANDERS
STAR STAFF
ivan.sanders@elizabethton.com   

Rob Fritts feels first-hand the cost of rising gas prices.

Fritts, a Hampton businessman who operates Affordable Trash Service,  said he has seen a steady rise in fuel cost since January.

“The price to do business increases every day it seems,” Fritts said. “The price to do anything really increases daily. Fuel costs are arguably the number one cost that’s a variable and that is almost always an uncertainty of a forecast to predict how much it will go up in a given quarter.

“For my business, back in March when places were running out of fuel, we just got what we would use each day. No more, no less. I am glad we aren’t at that point again right now, but the cost keeps going up and the customers and consumers are the ones that ultimately end up paying more.”

According to AAA – The Auto Club Group, the Tennessee gas price average on Monday was $3.16 – four cents higher than last week and 26 cents higher than in September and $1.25 more than in 2020.

“With the U.S. economy slowly recovering from the depths of the pandemic, demand for gas is robust, but the supply is tight,” said Megan Cooper, spokesperson, AAA – The Auto Club Group. “We haven’t seen prices this high since September of 2014.”

The following are facts released this week by AAA:
– 9% of Tennessee gas stations have prices below $3.00.
– The lowest 10% of pump prices are $2.98 for regular unleaded.
– The highest 10% of pump prices are $3.39 for regular unleaded.
– National gas prices for a gallon of gasoline rose six cents over the past week to hit $3.38, marking a daily increase for the past 27 days.
 
According to the AAA, the recent rise in the pump price is due to higher demand coupled with a decline in stocks alongside elevated crude prices. Global oil production is still below pre-pandemic levels. Since the cost of oil accounts for more than half of the pump price, consumers will be paying more as long as crude prices remain high.

“We ultimately are at the mercy of the oil prices for what we have to pay,” Fritts said. “I just hope this is the worst of the fuel prices as far as high prices. We want to give a great service at a fair price. That’s what we strive to do … but we will have to pass some of those costs inevitably to the customers as they rise.”

Landon Scott, a resident of Wise, Virginia, was passing through the area and stopped to fill up his tank at a local gas station on Monday.

Scott warranted the fill-up as prices “are much more higher in Virginia at almost $3.29 a gallon in many places”.

“Getting to fill up here (Exxon) at $3.09 saves me 20 cents a gallon which when you drive a vehicle my size can add up quickly,” Scott said. “Every time I see an opportunity to save a few pennies, it’s crazy not to do so.”

Some wonder how rising fuel costs will impact businesses especially as the holiday shopping season is set to begin.

Elizabethton – Carter County Chamber of Commerce Executive Director Joy McCray said local leaders are not concerned about the impact on tourism. “Guests continue to visit Carter County steadily,” she said. “We are anticipating a busy holiday season with all the community events, attractions, and shopping throughout Carter County.”

Tennessee Average Gas Prices

Regular Mid-Grade Premium Diesel
Current Avg. $3.160 $3.485 $3.807 $3.442
Yesterday Avg. $3.161 $3.491 $3.812 $3.443
Week Ago Avg. $3.116 $3.438 $3.766 $3.387
Month Ago Avg. $2.896 $3.248 $3.581 $3.120
Year Ago Avg. $1.914 $2.249 $2.574 $2.267