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.
Local Gas Prices On The Rise
