As oil slips to the lowest level in more than a decade, gas prices continue logging multi-year lows. The price of a gallon of regular unleaded is $1.89, the lowest national average since February 27, 2009. Gas prices in the southeastern U.S. are also at 7-year lows, with Monday’s state average hitting a $1.68 in Tennessee.
The price of crude oil fell below $30 for the first time in 12 years. This comes amid concerns that problems in the Chinese economy will reduce fuel demand. There is also downward pressure on prices due to signs that sanctions against Iran would be lifted, allowing a boost in crude shipments form OPEC’s fifth-biggest member.
The low price for gas in Manchester this week is $1.54 and $1.56 per gallon in Tullahoma.
Gas Prices Continue Fall
