Gas Prices Continue to Decline

gas prices2Gas prices are declining again, falling 6 cents nationwide in the past week. Prices are also down 3 cents in Tennessee, falling to an average of $1.99 per gallon.
“Average prices rose about a nickel in the past couple weeks due to rising oil prices and elevated demand at the same time that refineries were conducting seasonal maintenance,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “More and more refineries are returning to full capacity, which will beef up supplies, helping to push gas prices lower in the coming weeks.”
The price of oil settled at $47.26 a barrel on the NYMEX last Friday – 88 cents higher than Thursday, but $2.37 lower than the closing price a week before.
In Coffee County as of Tuesday afternoon the low price per gallon was $1.83 and in Tullahoma the low price has dipped to $1.87.