Gas Prices Drop 1.8 Cents In Chattanooga

Monday, January 23, 2017

Average retail gasoline prices in Chattanooga have fallen 1.8 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 3.2 cents per gallon in the last week to $2.30 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 49.0 cents per gallon higher than the same day one year ago and are 3.9 cents per gallon higher than a month ago.

The national average has increased 1.9 cents per gallon during the last month and stands 46.6 cents per gallon higher than this day one year ago.

According to GasBuddy historical data, gasoline prices on January 23 in Chattanooga have ranged widely over the last five years:
$1.56 per gallon in 2016, $1.83 in 2015, $3.05 in 2014, $3.16 in 2013 and $3.24 in 2012.

Areas near Chattanooga and their current gas price climate:
Knoxville- $2.04, down 2.3 cents per gallon from last week's $2.07.
State of Tennessee- $2.10, down 2.2 cents per gallon from last week's $2.12.
Huntsville- $2.12, down 1.1 cents per gallon from last week's $2.13.

"Last week ended with President Trump's Inauguration and we saw the benchmark WTI crude close up more than $1 per barrel from the previous day... Coincidence?” said Gregg Laskoski, senior petroleum analyst for GasBuddy.

"One of the first announcements made by the new Administration was its 'America First Energy Plan' which states that "Producing more energy is in America’s national security interest. It said: "President Trump is committed to achieving energy independence from the [Organization of Petroleum Exporting Countries] cartel and any nations hostile to our interests. At the same time, we will work with our [Persian] Gulf allies to develop a positive energy relationship as part of our antiterrorism strategy.

"While it's too soon to speculate what such a plan might mean in the long term for prices at the pump, for now we expect another week of nominal decreases in retail gas prices. Refineries are unloading winter-blend gasoline at 'fire sale' prices."