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Sun, Sep 21, 2014

Gas prices continue downward trend

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Average retail gasoline prices in Tennessee have fallen 2.2 cents per gallon in the past week, averaging $3.13/g Sunday.

This compares with the national average that has fallen 3.2 cents per gallon in the last week to $3.43/g, according to gasoline price website TennesseeGasPrices.com.

Including the change in gas prices in Tennessee during the past week, prices yesterday were 3.5 cents per gallon lower than the same day one year ago and are 31.0 cents per gallon lower than a month ago. The national average has decreased 26.4 cents per gallon during the last month and stands 6.5 cents per gallon higher than this day one year ago.

"With Thanksgiving just days away, Americans will be hitting major thoroughfares en masse. While gasoline prices have dropped in the last month and a half, the national average will still come close to breaking a record- the highest ever national average for Thanksgiving," said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. "I don't really see how gas prices could greatly improve between now and Christmas, given the new military action in the Middle East, and other pressures. It's all but certain the national average will not drop under $3.25 per gallon, which could lead to a perilous start to 2013," DeHaan said.

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Business, Economy, Gas Buddy, Gas prices, Tennessee
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