Chattanooga gas prices dropped this week to the lowest level since January and are now at the lowest summertime level in a dozen years, according to GasBuddy's daily survey of 170 gas outlets in Chattanooga.
Average retail gasoline prices in Chattanooga fell another 2.8 cents per gallon in the past week to $1.96 per gallon. Local fuel prices are down 4.1 cents per gallon in the past month and are now 19.6 cents per gallon below the same time a year ago, 54 cents per gallon less than two years ago and $1.39 a gallon below the price three years ago in mid June.
Chattanooga gas prices were the lowest of any major city in Tennessee and average 37 cents per gallon below the U.S. average, according to GasBuddy.com
Nationwide, gas prices fell 4 cents per gallon last week to $2.33 per gallon.
"Oil prices remain near 6-month lows as fundamentals remain weak- supply remains high even in light of production cuts from OPEC while demand has been mild, not remarkable," said Patrick DeHaan, senior petroleum analyst for GasBuddy. "Today's national average price for gasoline is the lowest for mid-June since 2005 - not an easy record to attain. By all measures, gasoline prices this year have been exactly what most motorists seem to love - stable and cheap, two words that rarely have been synonymous with gas prices over the last decade."
Regular gas was selling the cheapest in the Chattanooga area today at the Murphy USA station in Lookout Valley, where gas is priced at $1.85 per gallon, according to GasBuddy.com