Gas Prices Coming Down

As forecast, retail gas prices started to retreat last week and the downward trend is expected to continue throughout the rest of January. Pump prices will likely fall in the short term, many Manchester discounters offering regular gas at $2.94 per gallon. In Tullahoma the low price was $3.02 on Monday.
AAA forecast prices will peak in the Spring when refineries begin the switch to the summer fuel blend and demand starts to pick up.
In 2012, the national average peaked at $3.94 in April, but is forecast not to surpass $3.80 this year. In addition, U.S. demand for oil dropped to its lowest level in 16 years, while refinery output rose the most in 150 years, according to the American Petroleum Institute.
Tennessee’s average of $3.17 decreased 3 cents from last week.