Gas Prices Continue To Rise

gas pricesThe national average price for regular unleaded gasoline has increased 34 consecutive days for a total of 37 cents per gallon. The national average rose 35 cents during the month of February.
“Gas prices are surging in California which could elevate the national average at a faster rate than prices in the southeastern United States,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. However, motorists in Tennessee could still see prices inch up another 10 cents in the next two weeks, because of rising wholesale gas prices due to ongoing seasonal maintenance at gulf coast refineries.”
The rising price of oil, which has had the biggest influence on pushing pump prices higher, fell back below $50 a barrel this week. WTI settled at $49.76 on the NYMEX, after settling as high as $53.53 February 17. The EIA forecasts that WTI could average $55 a barrel this year.
“Gas prices should not reach $3 a gallon this year, especially if the price of oil remains below $60 a barrel,” Jenkins said. “Gas prices will be relatively volatile in the coming months, but should decline by the summer following the end of maintenance season.”
The low price per gallon in Manchester is $2.07 and in Tullahoma it’s $2.04.