Gas price update and outlook - 7.26.12
Posted: Friday, July 27, 2012 3:01 pm
Average retail gasoline prices in Tennessee have risen 9.1 cents per gallon in the past week, averaging $3.22 per gallon Sunday.
This compares with the national average that has increased 4.9 cents per gallon in the last week to $3.49 per gallon, according to gasoline price website TennesseeGasPrices.com.
Including the change in gas prices in Tennessee during the past week, prices Sunday were 34.7 cents per gallon lower than the same day one year ago and are 13.6 cents per gallon higher than a month ago.
The national average has increased 2.4 cents per gallon during the last month and stands 20.1 cents per gallon lower than that day one year ago.
“Gasoline prices continue to rise across much of the nation, which is precisely what we had forecast earlier this year, so it does not come as much of a shock,” said GasBuddy.com senior petroleum analyst Patrick DeHaan.
“Either way, I don’t expect the national average to break out of its mid-$3 per gallon rut until mid-to-late September, then we may get some action to the downside,” 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.