Gas price update and outlook – 3.20.12
Posted: Thursday, March 22, 2012 11:00 am
Average retail gasoline prices in Tennessee have risen 4.6 cents per gallon in the past week, averaging $3.64 per gallon Sunday.
This compares with the national average that has increased 4.3 cents per gallon in the last week to $3.80 per gallon, according to gasoline price website TennesseeGasPrices.com.
Including the change in gas prices in Tennessee during the past week, prices Sunday were 25.4 cents per gallon higher than the same day one year ago and are 15.7 cents per gallon higher than a month ago.
The national average has increased 28.6 cents per gallon during the last month and stands 27.9 cents per gallon higher than this day one year ago.
“Average retail gasoline prices will likely rise this week, after a surge in wholesale prices late last week,” said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan.
“Some analysts believe gasoline prices may have peaked, but I am not at all confident in such words. I still maintain that prices will likely not peak until we get closer to the month of May, as a majority of locales around the United States make eventual switch overs to summer spec gasoline.”
GasBuddy operates TennesseeGasPrices.com and over 250 similar websites that track gasoline prices at over 140,000 gasoline stations in the United States and Canada.