Gas Prices Drop 5.2 Cents In Chattanooga

Monday, March 23, 2015

Average retail gasoline prices in Chattanooga have fallen 5.2 cents per gallon in the past week, averaging $2.05 per gallon on Sunday, according to GasBuddy's daily survey of 170 gas outlets in Chattanooga. This compares with the national average that has not moved 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 Sunday were 120.1 cents per gallon lower than the same day one year ago and are 8.7 cents per gallon lower than a month ago.

The national average has increased 12.1 cents per gallon during the last month and stands 110.6 cents per gallon lower than this day one year ago.

"Gasoline trends are all over the place, depending on where in the country motorists are," said Patrick DeHaan, GasBuddy senior petroleum analyst. "While much of the country saw prices drift lower, two distinct regions saw the opposite. The Great Lakes saw prices spike as refinery issues plague the region, following in the steps of what happened at the pump in the West several weeks ago. Illinois, Michigan, Indiana, Ohio and Wisconsin saw the largest moves- increases of more than a dime. The Rockies region also saw increases, yet much milder than what was hitting motorists in the Great Lakes. California led declining states, falling double digits per gallon, as refinery issues have at least for the time being been dealt with."

When pressed about what lies ahead, Mr. DeHaan said, "The coming week shows nothing guaranteed but uncertainty, as refiners begin finishing maintenance season, boosting production, and beginning to draw down on oil inventories that are setting records. This recipe will likely bring the lowest summer gasoline prices since 2010, but the short term outlook may vary based on region, with West Coast locales seeing falling prices, Rockies and Plains states will see slight increases or stability, with Gulf and East Coast regions seeing mild declines. Price trends in the Great Lakes will hinge on refinery issues being resolved."