BIZ: Gas prices expected to remain near record levels this year
Gas prices across the nation are expected to be near record levels this year, according to a new forecast from the federal government.
The U.S. Energy Information Administration reported this week it expects that falling crude oil prices will contribute to a decline in the national annual average regular gasoline retail price from a record $3.63 per gallon in 2012 to $3.55 per gallon in 2013. That is still the second-highest ever behind last year's figure and 11 cents more than the agency's forecast last month.
Prices are expected to drop to $3.39 per gallon in 2014.
A gallon of gas in Nashville currently costs an average of $3.42 per gallon, down from $3.45 per gallon a year ago, according to AAA's Fuel Gauge Report.
