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Tue, Sep 16, 2014

Holiday season brings lower gas prices

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The national and state average price of gaoline has seen a steady drop over the past week, according to GasBuddy.com.

"The national average has continued to see a steady decline over the last week, and that trend will likely continue through this week at the very least," said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan.

Average retail gasoline prices in Tennessee have fallen 4.6 cents per gallon in the past week, averaging $3.10/g Sunday. This compares with the national average that has fallen 4.8 cents per gallon in the last week to $3.34/g, according to gasoline price website TennesseeGasPrices.com.

Including the change in gas prices in Tennessee during the past week, prices yesterday were 1.3 cents per gallon higher than the same day one year ago and are 5.6 cents per gallon lower than a month ago. The national average has decreased 12.2 cents per gallon during the last month and stands 5.5 cents per gallon higher than this day one year ago.

"Last week, the Energy Information Administration reported one of the largest single week increases in gasoline inventories in my recent memory, which will likely contribute downward pressure to wholesale gasoline prices in the days and perhaps weeks ahead," DeHaan said.

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Members Opinions:
December 11, 2012 at 7:27pm
These gas prices are absolutely mad. I’ve definitely been seeing a welcome respite from some of the prices that were floating around the Murfreesboro area a couple months ago, but I guess I never really put two and two together to realize that they’re still higher now than they were last year at this time.

I guess I’m also pretty jaded about the price of gasoline at this point; despite the claim that we could see a fall in prices due to a larger inventory of gas, I don’t see the companies letting us get too close to Christmas without hiking up the prices. I do not believe I’m the only one here who’s pretty much counting on them to take advantage of the families traveling to visit relatives around the holidays.

That said, I’ll try and hope for the best regarding this supposed further fall in prices—and wouldn’t be surprised I we do see it for… about a week—and continue hoping for a future where we might see manageable prices again. I guess if that day doesn’t come around too soon, though, I’m still thankful for prices around $3.00 instead of $3.50, so it’s always good to see those too.
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