Gas Prices Drop 6.1 Cents In Chattanooga

Monday, October 3, 2016

Average retail gasoline prices in Chattanooga have fallen 6.1 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 1.5 cents per gallon in the last week to $2.22 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 17.4 cents per gallon higher than the same day one year ago and are 11.4 cents per gallon higher than a month ago.

The national average has increased 1.4 cents per gallon during the last month and stands 7.3 cents per gallon lower than this day one year ago.

According to GasBuddy historical data, gasoline prices on Oct. 3 in Chattanooga have ranged widely over the last five years:
$1.94 in 2015, $3.06 in 2014, $3.10 in 2013, $3.51 in 2012 and $3.23 in 2011.

Areas nearby Chattanooga and their current gas price climate:
Knoxville- $2.06, down 0.9 cents per gallon from last week's $2.07.
State of Tennessee- $2.13, down 2.5 cents per gallon from last week's $2.15.
Huntsville- $2.12, down 1 cent per gallon from last week's $2.13.

"Gasoline prices quickly reacted to news last week that OPEC had come to a decision regarding cutting back oil production," said Patrick DeHaan, senior petroleum analyst for GasBuddy. "Oil prices surged on the news which fueled gas prices to jump as well, but several days after the news broke, there's reason to doubt OPEC's sincerity of a possible production cut. In addition, Hurricane Matthew is a major storm worth monitoring as it heads for the East Coast- perhaps to areas affected by the Colonial Pipeline outage last month. Should fuel availability and power outages arise from Matthew, GasBuddy stands ready to activate our Gasoline Availability Tracker."