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Gas price update and outlook – 10.25.11

Gas price update and outlook – 10.25.11

Posted: Wednesday, October 26, 2011 7:01 pm

The average retail gasoline prices in Tennessee have fallen 0.3 cents per gallon in the past week, averaging $3.29 per gallon Sunday.
This compares with the national average that has fallen 1.8 cents per gallon in the last week to $3.47 per gallon, according to gasoline price website TennesseeGasPrices.com.
Including the change in gas prices in Tennessee during the past week, prices Sunday were 65.6 cents per gallon higher than the same day one year ago and are 1.4 cents per gallon higher than a month ago.
The national average has decreased 5.9 cents per gallon during the last month and stands 65.5 cents per gallon higher than this day one year ago.
“Surprisingly, the average price for a gallon of gasoline fell last week,” said Patrick DeHaan, GasBuddy.com senior petroleum analyst.
“While volatility in prices is all but guaranteed, the direction in which prices travel is less clear, even after the death of Gadhafi. Many Americans believe his death will mean a drop in oil prices- but I just don’t see it happening,” DeHaan added.
Courtesy of TennesseeGasPrices.com

WCP 10.25.11

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