Gas Prices Drop 6.9 Cents In Chattanooga

Monday, June 27, 2016

Average retail gasoline prices in Chattanooga have fallen 6.9 cents per gallon in the past week, averaging $2.02 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 $2.31 per gallon, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Chattanooga during the past week, prices Sunday were 45.9 cents per gallon lower than the same day one year ago and are 13.1 cents per gallon lower than a month ago.

The national average has decreased 1.3 cents per gallon during the last month and stands 47.2 cents per gallon lower than this day one year ago.

According to GasBuddy historical data, gasoline prices on June 27 in Chattanooga have ranged widely over the last five years:
$2.48 in 2015, $3.39 in 2014, $3.26 in 2013, $3.00 in 2012 and $3.31 in 2011.

Areas nearby Chattanooga and their current gas price climate:
Knoxville- $2.06, down 3.6 cents per gallon from last week's $2.10.
State of Tennessee- $2.09, down 2.8 cents per gallon from last week's $2.12.
Huntsville- $2.09, down 2.6 cents per gallon from last week's $2.12.

"The national average price of gasoline has now slipped nearly 10 cents lower than the 2016 peak, to-date, of $2.39 per gallon, bringing greater likelihood that prices for the Fourth of July weekend will be even lower than where they now stand," said Gregg Laskoski, senior petroleum analyst for GasBuddy.

"And if there was any doubt about the direction of retail gasoline, 'Brexit's impact --strengthening the U.S. dollar; weakening European currencies and weakening global crude oil prices-- is expected to add even more downward pressure to summer gas prices despite record-setting demand (9.81 million barrels per day for the week ending June 17)."