Gas Prices Will Continue To Fall

gas prices2U.S. motorists in southern and mid-west states could see a handful of gas stations hit the $2 a gallon mark just in time for the Christmas holiday season. OPEC’s failure to cut oil production could cause gas prices to fall by as much as 20 cents. The national average has fallen for 67 consecutive days the longest streak since 2008. The streak of declines is 16 in Tennessee.
“Drivers in southeastern states, such as Tennessee, may see a select few stations selling gas at or below $2 in the coming weeks,” said Josh Carrasco, spokesman, AAA – The Auto Club Group. “The chances of gasoline averaging $2 per gallon are highly unlikely. Oil prices would have to drop another $25 to $30 a barrel before we reach the $2 threshold.”
West Texas Intermediate (WTI) crude oil, the U.S. benchmark, fell $7.54 on Friday to $66.15 per barrel, the lowest close in five years.
Motorists should expect gas prices to fall throughout the holiday season.”
The national average for a gallon of regular unleaded gasoline ($2.78) is 4 cents cheaper than last week, 23 cents cheaper than a month ago, and 49 cents cheaper than this time last year. Tennessee’s average of $2.57 is 4 cents cheaper than last week, 19 cents cheaper than a month ago, and 59 cents cheaper than this time last year.
The low price in Manchester is $2.44 per gallon and in Tullahoma the low price has dipped to $2.43.