Gas Prices Drop 2.4 Cents In Chattanooga

Monday, October 17, 2016

Average retail gasoline prices in Chattanooga have fallen 2.4 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 fallen 2.4 cents per gallon in the last week to $2.23 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 11.5 cents per gallon higher than the same day one year ago and are 6.4 cents per gallon lower than a month ago.

The national average has increased 3.0 cents per gallon during the last month and stands 3.4 cents per gallon lower than this day one year ago.

According to GasBuddy historical data, gasoline prices on October 17 in Chattanooga have ranged widely over the last five years:
$1.93 in 2015, $2.81 in 2014, $3.10 in 2013, $3.47 in 2012 and $3.27 in 2011.

Areas nearby Chattanooga and their current gas price climate:
Knoxville- $2.09, down 1 cent per gallon from last week's $2.10.
Tennessee- $2.10, down 2.7 cents per gallon from last week's $2.13.
Huntsville- $2.13, flat from last week's $2.13.

"October is a time we all expect gas prices to decline. Looking at the change in the U.S. average price for Octobers from 2015 to 2012, it's dropped from Oct. 1 to Oct. 31, by 12, 34, 11 and 26 cents respectively," said Gregg Laskoski, senior petroleum analyst for GasBuddy. "That's an average decrease of 20 cents per gallon during the last four Octobers.

"But this month has proven to be an exception with the national average still a few cents higher than where it was on Oct. 1 at $2.22. While the price increase of crude oil has stalled the expected price decrease for retail gasoline, problems at major refineries in IN, TX, LA and CA have adversely impacted supply as well. The most recent EIA report shows U.S. refinery output at just 85.5%, the lowest level since Jan. 22, 2015."