Average retail gasoline prices in the Nashville area fell 9.3 cents per gallon during the past week, averaging $3.44 per gallon as of Sunday, according to gasoline price website NashvilleGasPrices.com.
This compares with the national average of $3.67, a decrease of 9 cents.
Nashville prices Sunday were 14.6 cents per gallon higher than they were on the same day one year ago and 21.1 cents per gallon lower than they were four weeks ago. The national average has decreased 14.2 cents per gallon during the last four weeks and stands 20.1 cents per gallon higher than on this day one year ago.
“Only one other time in the last few years have we seen the national average drop so significantly in the course of just a week, and that other time was in May 2011," GasBuddy.com Senior Petroleum Analyst Patrick DeHaan said in a release. "Looking back at our data, we only see that prices dropped considerably more in autumn 2008 when the economy slipped into a recession. Given the circumstances with this latest weekly decrease — that it has nothing to do with recession - is significant.”
GasBuddy operates NashvilleGasPrices.com and more than 250 similar websites that track gasoline prices at approximately 140,000 gasoline stations in the United States and Canada.