State gas prices: update and outlook
Posted: Wednesday, September 28, 2011 12:02 pm
Average retail gasoline prices in Tennessee have fallen 9.1 cents per gallon in the past week, averaging $3.28 per gallon Sunday.
This compares with the national average that has fallen 7.1 cents per gallon in the last week to $3.53 per gallon, according to gasoline price website TennesseeGasPrices.com.
Including the change in gas prices in Tennessee during the past week, prices Sunday were 74.8 cents per gallon higher than the same day one year ago and are 13.8 cents per gallon lower than a month ago.
The national average has decreased 7.2 cents per gallon during the last month and stands 82.9 cents per gallon higher than that day one year ago.
“Last week saw an impressive decline in crude oil and gasoline futures, and accordingly, motorists in most areas of the U.S. have seen retail gasoline prices decline. In some areas, prices have outright plunged to under $3 per gallon,” said Patrick DeHaan, GasBuddy.com Senior Petroleum Analyst.
“While social networking sites are abuzz about the decline, be warned that the market does remain extremely sensitive to geopolitical issues and refinery maintenance season is right around the corner,” DeHaan added.
GasBuddy.com operates over 200 live gasoline price-tracking websites, including TennesseeGasPrices.com. GasBuddy.com was named one of Time magazine’s 50 best websites and to PC World’s 100 most useful websites of 2008.