Gas price update and outlook - 5.01.12

Average retail gasoline prices in Tennessee have fallen 6.3 cents per gallon in the past week, averaging $3.63 per gallon Sunday. This compares with the national average that has fallen 3.3 cents per gallon in the last week to $3.81 per gallon, according to gasoline price website TennesseeGasPrices.com.
Including the change in gas prices in Tennessee during the past week, prices Sunday were 11.9 cents per gallon lower than the same day one year ago and are 11.6 cents per gallon lower than a month ago. The national average has decreased 8.6 cents per gallon during the last month and stands 10.4 cents per gallon lower than this day one year ago.
“Unsurprisingly, the average price for a gallon of regular self-serve continues to drop in a majority of communities across the United States,” said GasBuddy.com senior petroleum analyst Patrick DeHaan.
“The national average now stands nearly 10-cents per gallon lower than the same date a year ago, but will we hear an end to complaining about gasoline prices at the pump? Perhaps the rhetoric will wind down, but with summer around the corner, any sudden increase in price of gasoline will have Americans virtually calling for the heads of politicians in November,” DeHaan added.

WCP 5.01.12

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