Gas price update and outlook
Posted: Wednesday, September 21, 2011 9:20 am
Average retail gasoline prices in Tennessee have fallen 6.8 cents per gallon in the past week, averaging $3.37/gallon Sunday.
This compares with the national average that has fallen 4.2 cents per gallon in the last week to $3.61/gallon, according to gasoline price website TennesseeGasPrices.com.
Including the change in gas prices in Tennessee during the past week, prices yesterday were 81.1 cents per gallon higher than the same day one year ago and are 4.7 cents per gallon lower than a month ago.
The national average has increased 2.4 cents per gallon during the last month and stands 88.0 cents per gallon higher than this day one year ago.
“It took the end of summer for a drop in retail gasoline prices, but I’m sure motorists won’t complain that we’re finally seeing some drops in prices,” said Patrick DeHaan, GasBuddy.com Senior Petroleum Analyst.
“We’ve seen wholesale prices continue to be somewhat volatile, but I believe as we enter October we’ll see markets slowly quiet down with retail gasoline prices falling to $3.35-$3.55 on average by Thanksgiving, with the exception being typical hotspots on the West Coast,” DeHaan adds.
GasBuddy.com operates over 200 live gasoline price-tracking websites, including TennesseeGasPrices.com. GasBuddy.com was named one of Time magazine’s 50 best websites and to PC World’s 100 most useful websites of 2008.