Gas Prices Drop 4.7 Cents In Chattanooga

Monday, July 11, 2016

Average retail gasoline prices in Chattanooga have fallen 4.7 cents per gallon in the past week, averaging $1.88 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 3.4 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 52.2 cents per gallon lower than the same day one year ago and are 28.7 cents per gallon lower than a month ago.

The national average has decreased 15.7 cents per gallon during the last month and stands 53.2 cents per gallon lower than this day one year ago.

According to GasBuddy historical data, gasoline prices on July 11 in Chattanooga have ranged widely over the last five years:
$2.40 per gallon in 2015, $3.30 in 2014, $3.27 in 2013, $3.02 in 2012 and $3.44 in 2011.

Areas nearby Chattanooga and their current gas price climate:
Knoxville- $1.98, down 2.9 cents per gallon from last week's $2.01.
State of Tennessee- $2.01, down 3.7 cents per gallon from last week's $2.05.
Huntsville- $2.00, down 4.0 cents per gallon from last week's $2.04.

“Even an uptick in demand for gasoline during the Fourth of July weekend couldn’t slow falling retail gasoline prices. The average retail gasoline price for the United States has dropped for 26 consecutive days, where it now sits at $2.23 per gallon. This translates to a 16 cent drop in gas prices since the streak started. These falling gas prices have been supported by the price of West Texas Intermediate crude losing 7.3% of its value in one week’s time,” said Will Speer, senior petroleum analyst for GasBuddy. “As the European Union stability weighs on investor’s minds, states like Ohio and Michigan have been able to take advantage of lower crude prices and improved refinery utilization in the region by posting a nation-leading 10 cent per gallon average decline in gas prices in one week."