Gas price update and outlook – 4.10.12
Posted: Thursday, April 12, 2012 3:00 pm
Average retail gasoline prices in Tennessee have risen 3.3 cents per gallon in the past week, averaging $3.78 per gallon Sunday. This compares with the national average that has increased 1.4 cents per gallon in the last week to $3.91 per gallon, according to gasoline price website TennesseeGasPrices.com.
Including the change in gas prices in Tennessee during the past week, prices Sunday were 19.0 cents per gallon higher than the same day one year ago and are 20.3 cents per gallon higher than a month ago. The national average has increased 16.8 cents per gallon during the last month and stands 17.2 cents per gallon higher than this day one year ago.
“Gasoline prices in the hardest hit areas have finally shown signs of relief, with gasoline prices falling now in Chicago as they have for a few weeks in California,” said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. “We’re beginning to see refinery utilization rise, indicating refineries are coming out of maintenance and boosting production. If we continue to see utilization rise at domestic refineries, we may see an earlier peak than we have in prior years, “ 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.