Average gasoline prices in Chattanooga have fallen 13 cents per gallon in the last week, averaging $2.89 per gallon on Monday, according to GasBuddy's survey of 170 stations in Chattanooga. Prices in Chattanooga are 39.5 cents per gallon lower than a month ago and stand 54.8 cents per gallon lower than a year ago. The national average price of diesel has fallen 7.7 cents in the last week and stands at $4.38 per gallon.
According to GasBuddy price reports, the cheapest station in Chattanooga was priced at $2.72 per gallon on Sunday while the most expensive was $3.29, a difference of 57.0 cents per gallon.
The lowest price in the state was $2.68 while the highest was $4.39, a difference of $1.71 per gallon.
The national average price of gasoline has fallen 4.3 cents per gallon in the last week, averaging $3.33 per gallon Sunday. The national average is down 17.6 cents per gallon from a month ago and stands 26.3 cents per gallon lower than a year ago, according to GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.
Historical gasoline prices in Chattanooga and the national average going back ten years:
February 27, 2022: $3.44/g (U.S. Average: $3.59/g)
February 27, 2021: $2.42/g (U.S. Average: $2.72/g)
February 27, 2020: $2.12/g (U.S. Average: $2.44/g)
February 27, 2019: $2.16/g (U.S. Average: $2.42/g)
February 27, 2018: $2.23/g (U.S. Average: $2.53/g)
February 27, 2017: $2.03/g (U.S. Average: $2.29/g)
February 27, 2016: $1.49/g (U.S. Average: $1.74/g)
February 27, 2015: $2.13/g (U.S. Average: $2.37/g)
February 27, 2014: $3.17/g (U.S. Average: $3.43/g)
February 27, 2013: $3.59/g (U.S. Average: $3.79/g)
Neighboring areas and their current gas prices:
Knoxville- $3.05, down 5.1 cents per gallon from last week's $3.10.
State of Tennessee- $2.99, down 10.5 cents per gallon from last week's $3.09.
Huntsville- $3.01, down 7.3 cents per gallon from last week's $3.08.
"The national average has resumed its decline after a pause last week as oil and wholesale gasoline prices fell on worrisome inflation figures showing the Fed likely to ramp up rates to slow inflation," said Patrick De Haan, head of petroleum analysis at GasBuddy. "Some nine out of 10 states saw declines over the last week, so the drops are showing up for most across the country, with the exception of the West Coast as the transition to summer blends continues, and in the Great Lakes, where prices cycled last week but have now resumed declining. For the weeks ahead, tradition tells us to expect prices to move up eventually, but that could be at least be partially offset by inflationary data that continues to be hotter than expected, leading to anxiety that the Fed will boost interest rates and cooling the economy and oil demand considerably."