Gas Prices Coming Down

gas prices2The price at the pump is at its lowest point in seven months, nationally. Gas prices fell for the sixth consecutive week, while oil had its lowest Friday close since May 2013.
“Motorists should continue to see a discount at the pump,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “High domestic oil supplies, a decrease in global demand, and the easing of geopolitical tensions in Libya and Iraq are keeping downward pressure on gasoline prices. Starting yesterday, refineries are no longer required to sell summer-blend gasoline. Winter-blend is cheaper to produce, which will help push prices even lower in the coming months.”
The price for a barrel of oil settled at $92.27 on Friday – $1.02 cheaper than last week’s close, and the cheapest close in four months.
The current national average price for a gallon of regular unleaded gasoline is $3.40, 4 cents cheaper than last week. In Tennessee the price of gas fell 3 cents to settle at $3.18 a gallon. In Coffee County the low price in Manchester is $3.06 per gallon and in Tullahoma the low price is $3.09.