Gas price update and outlook - 7.17.12
Posted: Wednesday, July 18, 2012 3:23 pm
Average retail gasoline prices in Tennessee have risen 2.9 cents per gallon in the past week, averaging $3.12 per gallon Sunday. This compares with the national average that has not moved in the last week to $3.42 per gallon, according to gasoline price website TennesseeGasPrices.com.
Including the change in gas prices in Tennessee during the past week, prices yesterday were 40.8 cents per gallon lower than the same day one year ago and are 3.4 cents per gallon lower than a month ago. The national average has decreased 11.0 cents per gallon during the last month and stands 24.7 cents per gallon lower than this day one year ago.
“Those who stuck around the low gas price party expecting it to last have realized they’re out in the cold,” said GasBuddy.com senior petroleum analyst Patrick DeHaan.
“Oil prices are well off their recent lows, and we’ll likely continue to see the national average rise in response. Most regions should see prices rising, while the Rockies areas may see any increase take considerably longer to arrive,” 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.