Gas price update and outlook – 1.17.12
Posted: Wednesday, January 18, 2012 7:00 pm
Average retail gasoline prices in Tennessee have risen 0.7 cents per gallon in the past week, averaging $3.24 per gallon Sunday. This compares with the national average that has increased 1.1 cents per gallon in the last week to $3.34 per gallon, according to gasoline price website TennesseeGasPrices.com.
Including the change in gas prices in Tennessee during the past week, prices Sunday were 30 cents per gallon higher than the same day one year ago and are 17.9 cents per gallon higher than a month ago. The national average has increased 10.3 cents per gallon during the last month and stands 27.2 cents per gallon higher than that day one year ago.
“Gasoline prices have slowed their rise in the last week as oil prices have temporarily stabilized,” said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan.
“I’m sure this leveling off in retail price won’t last terribly long as tension mounts with Iran. I still expect 2012 to be a nasty year for the typical motorist, which is what our recently released 2012 gasoline price outlook also states,” DeHaan said.
GasBuddy’s 2012 gasoline price outlook may be accessed by visiting http://www.scribd.com/doc/78052696/Gasoline-Forecast-Media.
GasBuddy.com operates over 250 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.