Gas Prices Will Continue To Fall

gas prices2The price of gasoline inched up an average of about a cent during the past week, but prices leveled off during the weekend. The national average price of $2.29 is the cheapest for this day since 2004.
“Gas prices fluctuated during the past couple of weeks, because gasoline demand is unusually high at a time when refineries are entering their maintenance season,” said Mark Jenkins, spokesman, AAA – The Auto Club Group.
Gas prices are forecast to average $2.20 this month, $2.10 in November, and $2.03 in December. The U.S. Energy Information Administration forecasts the price of oil for 2015 to average $49.23, then rise to $53.57 in 2016. Still, the average price of gasoline next year is forecast to be lower than this year’s by about 3 cents, as average gas prices are not forecast to rise as high as they did earlier this year.
The average price in Tennessee is $2.00 per gallon, up one-cent from last week. The low price in Tullahoma is $1.92 and in Manchester the low price per gallon is $1.91.