Chattanooga gas prices drop 6.4 cents per gallon last week

February 19, 2018 at 9:28 a.m. | Updated February 20, 2018 at 2:32 a.m.

by Dave Flessner

In this Tuesday, May 2, 2017, photo, a motorist fills his tank up at a Chevron gas station in Miami. Prices at the wholesale level rose 0.4 percent in November and 3.1 percent over the past year. It was the biggest annual jump in nearly six years and reflected a big spike in the price of gasoline and other energy products. (AP Photo/Alan Diaz)
In this Tuesday, May 2, 2017, photo, a motorist fills his tank up at a Chevron gas station in Miami. Prices at the wholesale level rose 0.4 percent in November and 3.1 percent over the past year. It was the biggest annual jump in nearly six years and reflected a big spike in the price of gasoline and other energy products. (AP Photo/Alan Diaz)

Average retail gasoline prices in Chattanooga fell for the second consecutive week last week, declining an average of 6.4 cents per gallon to $2.26 a gallon on Sunday, according to GasBuddy's daily survey of 170 gas outlets in Chattanooga.

Chattanooga gas prices also averaged 25 cents a gallon less than the U.S. average.

Patrick DeHaan, head of petroleum analysis for GasBuddy, said today the declining trend in gas prices "may not be over just yet" after oil prices dropped in recent weeks.

"But oil prices have rebounded from their lows and are again strengthening, which may cut the party at the pump short in the weeks ahead," DeHaan said. "Worth watching is U.S. shale oil production values which continue to increase, which may limit oil's rally moving forward, but dead ahead on the calendar is still turnaround season at the nation's refiners which promises at least some short-term pain for long-term gain."

Chattanooga gas prices are still up 2.5 cents from a month ago and are 24.4 cents per gallon higher than a year ago.

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