Gas Prices Could Be Coming Down Again

gas prices2Motorists should begin to notice lower gasoline prices in the coming weeks thanks to declining oil prices. Last week, a barrel of oil hit its lowest price since April, at a time when gasoline prices were about 20 cents cheaper.
“The decline at the pump is unlikely to be as dramatic as a 20 cent discount, but a few cents here and there is not out of the question,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “Usually gas prices respond more rapidly to rising oil prices than when oil prices fall. Prices at the pump aren’t as quick to fall when oil prices do because retailers first need to sell the gasoline in their tanks, which was purchased when gasoline was more expensive.
Tennessee’s state average price for gasoline was $2.51 on Sunday – 1-cent cheaper than a week ago, 4 cents cheaper than a month ago, and 90 cents cheaper than the price this time last year. On Tuesday afternoon Manchester’s low price per gallon was $2.35 and in Tullahoma the low price was $2.36.