Gas Prices Drop 1.3 Cents In Chattanooga
Monday, May 05, 2014
Average retail gasoline prices in Chattanooga have fallen 1.3 cents per gallon in the past week, averaging $3.51 per gallon on Sunday, according to GasBuddy's daily survey of 170 gas outlets in Chattanooga. This compares with the national average that has fallen 1.4 cents per gallon in the last week to $3.64 per gallon, according to gasoline price website GasBuddy.com.
Including the change in gas prices in Chattanooga during the past week, prices on Sunday were 32.5 cents per gallon higher than the same day one year ago and are 14.3 cents per gallon higher than a month ago. The national average has increased 9.2 cents per gallon during the last month and stands 13.4 cents per gallon higher than this day one year ago.
"Finally, the news motorists have been waiting for - it appears that at least for now, the national average has peaked," said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. "Since Feb. 7, gasoline prices have been on an upward trajectory in a majority of the U.S., and at least for now, prices have broken that upward trend and have stabilized. This is great news, as it likely means in the next couple weeks that gasoline prices will begin seeing more downward momentum. By Memorial Day, if there aren't major refinery kinks that develop, we could see the national average dropping into the $3.50s, or perhaps even lower."