Gas Prices Drop 2.9 Cents In Chattanooga

Monday, October 10, 2016

Average retail gasoline prices in Chattanooga have fallen 2.9 cents per gallon in the past week, averaging $2.08 per gallon on Sunday, according to GasBuddy's daily survey of 170 gas outlets in Chattanooga. This compares with the national average that has increased 3.3 cents per gallon in the last week to $2.25 per gallon, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Chattanooga during the past week, prices Sunday were 14.9 cents per gallon higher than the same day one year ago and are 12.0 cents per gallon higher than a month ago.

The national average has increased 7.9 cents per gallon during the last month and stands 6.1 cents per gallon lower than this day one year ago.

According to GasBuddy historical data, gasoline prices on October 10 in Chattanooga have ranged widely over the last five years:
$1.93 in 2015, $2.95 in 2014, $3.09 in 2013, $3.49 in 2012 and $3.21 in 2011.

Areas nearby Chattanooga and their current gas price climate:
Knoxville- $2.10, up 1.5 cents per gallon from last week's $2.08.
State of Tennessee- $2.12, down 0.5 cents per gallon from last week's $2.13.
Huntsville- $2.12, flat from last week's $2.12.

“Gasoline prices have risen in much of the country over the last week as crude oil prices rose to over $50 per barrel as market weighed the possibility of OPEC cutting production," said Patrick DeHaan, senior petroleum analyst for GasBuddy. "Among the hardest hit were Great Lakes states as refinery issues also pushed fuel prices higher. And while hundreds of gas stations in Florida ran out of gasoline ahead of Hurricane Matthew, much of the increase was not because of the storm but due to the rise in crude oil prices. Finding gas may be challenging in some parts of the Southeast in the week ahead, but motorists can continue to report and find gas by visiting GasBuddy's Gas Availability Tracker (http://Tracker.GasBuddy.com).

"Moving forward, oil may be on shaky ground as signs emerge that OPEC may not cut production as they indicated two weeks ago. The Saudis recently cut crude oil prices to some customers for November delivery, a fresh sign the Kingdom is staying aggressive about market share. This could lead to some relief as we head towards the holidays."