Local Gas Prices On The Rise

gas prices
Gas prices could finally be reaching their peak as the rate of increase at the pump is beginning to stall. Since last Sunday, the average price for gasoline rose 1-cent in Tennessee. In Coffee County the price went up drastically especially in Manchester where the low price per gallon jumped 14 cents to $2.49. In Tullahoma the low price went up by just one-cent to $2.37.
“Gas prices usually peak by May, but have been rising on the back of crude oil prices and increasing demand,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “The price of crude oil has found a new normal around $60 a barrel, and it’s likely that gas prices will decline in June.
Oil settled at $60.30 a barrel Friday after trading as low as $56.51 last week. The highest daily settlement this year was $60.93 a barrel on May 6.