Gas Prices Drop 1.4 Cents In Chattanooga

Monday, April 24, 2017

Average retail gasoline prices in Chattanooga have fallen 1.4 cents per gallon in the past week, averaging $2.11 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 one cent per gallon in the last week to $2.42 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 18.7 cents per gallon higher than the same day one year ago and are 12.3 cents per gallon higher than a month ago.

The national average has increased 13.0 cents per gallon during the last month and stands 28.0 cents per gallon higher than this day one year ago.

According to GasBuddy historical data, gasoline prices on April 24 in Chattanooga have ranged widely over the last five years:
$1.92 per gallon in 2016, $2.33 in 2015, $3.53 in 2014, $3.22 in 2013 and $3.68 in 2012.

Areas near Chattanooga and their current gas price climate:
Knoxville- $2.17, down 1 cent per gallon from last week's $2.18.
State of Tennessee- $2.16, down 0.9 cents per gallon from last week's $2.17.
Huntsville- $2.18, down 0.3 cents per gallon from last week's $2.18.

"Gasoline prices saw another weekly lift, yet have begun to slow their ascent in recent days," said Patrick DeHaan, senior petroleum analyst for GasBuddy.com. "Since mid-February, average gasoline prices have risen 17 cents- a far cry from the 41 cent gain during the same time a year ago. While the annual spring spike remains subdued, prices do remain 28 cents higher than a year ago, though the gap has narrowed."

"Overall, I would be surprised if we see the national average rise substantially more since the deadline for refiners to switch over to summer gasoline is nearly here. In addition, U.S. oil production numbers are up, keeping pressure on oil prices, while gasoline inventories remain very healthy. While we may see the national average rise to the low side of our previous predictions of $2.51-$2.83/gal for May, we're unlikely to see anything higher, which is certainly good news for motorists."