The average per-gallon price of regular gas in Tennessee was $3.39 as of yesterday, a decrease of four cents compared to the figure from the previous week, according to AAA.
This marks the sixth straight week the state has seen prices, on average, dip. About eight days ago, prices were expected to increase in April, AAA said, but now motorists in the Southeast are not expected to pay upwards of $4 a gallon this month as was originally forecasted.
At this time last year, retail gas prices were climbing their way to the year’s peak average of $3.94 nationally. During April 2012, motorists paid more than $3.80 a gallon for regular retail gasoline.
As of Sunday, the national average price was $3.60, a four-cent per-gallon decrease. More specifically, and to compare to Tennessee, Georgia’s per-gallon average of $3.46 decreased four cents.
In Nashville, the average per-gallon price of regular gas was $3.42 as of Sunday, a drop of four cents compared to the figure from the previous week. (See chart below.)
"Although gas prices were expected to rise in April, the first week shows signs of a continued decline in prices at the pump,” Jessica Brady, AAA spokeswoman, The Auto Club Group, said in a release. “The economic news released last week does not support increased fuel demand and means motorists will likely see falling gas prices again this week.”
A barrel of oil closed Friday at $92.70 on the New York Mercantile Exchange — $4.53 cents less than the mark from the week prior.
Crude prices made steep declines after the U.S. Labor Department reported payrolls increased a modest 88,000 in March, the smallest increase in nine months and less than half of the expected gain of 190,000. In addition, U.S. stockpiles of crude oil increased by more than two million barrels during the last week of March, according to the Energy Information Administration.