Tennessee gas price trends

Tennessee gas price trends

Posted: Friday, January 6, 2012 2:42 pm

The U.S. average price of gasoline Tuesday, $3.26 per gallon, has declined significantly in recent months but still remains 21.3 cents per gallon higher than the U.S. average price recorded last year at this time.
“As 2011 has come to a close, that’s cause for concern,” says Gregg Laskoski, Senior Petroleum Analyst for GasBuddy.com. “Why? For the past seven years, the average price movement from the beginning of the year to the peak price posted during the year has been $0.93 cents per gallon, and as high as $1.31 per gallon.”
“Last year was actually a good snapshot of what we’ve seen for the past seven years. 2010 ended with the national average at $3.05 and we saw the annual spring 2011 climb push the national average 91 cents higher to its peak level as early as May 11 when it reached $3.96 per gallon,” Laskoski said.
Tennessee average “start price” to peak retail gasoline prices:
2007:
• Start Price: $2.19 per gallon Jan. 1, 2007
• Peak Price: $3.04 per gallon May 21, 2007
• Difference: 85 cents per gallon
2008:
• Start Price: $2.92 per gallon Jan. 1, 2008
• Peak Price: $4.19 per gallon Sept. 14, 2008
• Difference: 127.1 cents per gallon
2009:
• Start Price: $1.46 per gallon Jan. 1, 2009
• Peak Price: $2.54 per gallon June 18, 2009
• Difference: 107.4 cents per gallon
2010:
• Start Price: $2.50 per gallon Jan. 1, 2010
• Peak Price: $2.92 per gallon Dec. 31, 2010
• Difference: 42.4 cents per gallon
2011:
• Start Price: $2.92 per gallon Jan. 1, 2011
• Peak Price: $3.79 per gallon May 11, 2011
• Difference: 86.7 cents per gallon
“In three of the last seven years, the spread between the yearly starting price and the peak exceeded $1 per gallon and only once in the past seven years was the spread below .82 cents per gallon. And, while we typically anticipate “peak” prices to occur in the midst of the summer driving season, sometimes the peak can even come after summer has concluded, as was the case nationally during 2006 and 2009. While past performance is no indication of future prices, if the national average doesn’t move closer toward or under $3 per gallon by the year’s end, we could be paying over $4 per gallon next spring,” said Patrick DeHaan, another Petroleum Analyst with GasBuddy.
About GasBuddy.com
GasBuddy.com is operated by GasBuddy Organization Inc. GasBuddy.com is a group of local websites which offers an online method for website visitors to post and view the most up-to-date retail gasoline price information.

WCP 1.05.12

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