Gas price update and outlook – 3.27.12
Posted: Thursday, March 29, 2012 10:17 am
Average retail gasoline prices in Tennessee have risen 5.7 cents per gallon in the past week, averaging $3.71 per gallon Sunday. This compares with the national average that has increased 4.5 cents per gallon in the last week to $3.86 per gallon, according to gasoline price website TennesseeGasPrices.com.
Including the change in gas prices in Tennessee during the past week, prices Sunday were 29.8 cents per gallon higher than the same day one year ago and are 15.5 cents per gallon higher than a month ago.
The national average has increased 21.9 cents per gallon during the last month and stands 29.5 cents per gallon higher than that day one year ago.
“The national average has risen twenty one consecutive days, according to our data, a troubling sign. Typically we expect such increases to occur more so in April,” said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. “We’re 31-cents per gallon ahead of our year ago pace, and I’m seriously contemplating revising my January forecasts upward having seen things race higher, faster than expected. If there’s any ounce of good news for motorists, its that such high prices so quickly may mean prices will peak in April rather than May,” DeHaan said.
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. In addition, GasBuddy offers a free smartphone app which has been downloaded over 20 million times to help motorists find gasoline prices in their area.