| Lowest Gas Prices in Chattanooga |
| Chattanooga Gas Prices provided by GasBuddy.com |
After a month of steadily rising gasoline prices, Chattanooga motorists are getting some relief at the pump.
The average retail prices of gas sold in Chattanooga fell by 4.6 cents per gallon in the past week to an average of $1.90 per gallon, according to GasBuddy's daily survey of 170 gas outlets in Chattanooga.
The drop in local gas prices contrasts with an average increase of 2.1 cents per gallon in the average price of gas nationwide.
Surveys by Gasbuddy.com show Chattanooga gas prices are 16 cents per gallon below the U.S. average and 12.4 cents per gallon less than the same time a year ago.
"The end of March last week capped a 30.5 cents-per-gallon jump in the national retail gasoline price average for the month," said Will Speer, GasBuddy senior petroleum analyst. "As prices now sit at the highest since November 2015, April brings the final phase of the transition to the more expensive summer-blend gasoline."
Speer expects gas prices in most areas to trend still higher this year, although at a far slower pace than in the previous month.
The price of crude oil dipped by 24 cents per barrel, or 0.67 percent, in trading Monday on the New York Mercantile Exchange to close at $35.46 per barrel. Oil prices rose from the Feb. 11 low of $27 per barrel to more than $40 a barrel before heading lower again in the past week.
While gas prices jumped by more than 30 cents per gallon during March in Chattanooga, diesel prices have risen at a slower pace. According to AAA fuel gauge surveys, the price of diesel fuel last month dipped below the price of gasoline for the first time in years.
On Monday, AAA said the average prices for gas and diesel were virtually identical in Chattanooga.
The cheapest gas in the Chattanooga area Monday remained at local Wal-Mart gas outlets. Gas was priced at $1.75 per gallon at the Sam's Club on Lee Highway and the Walmart store on East Brainerd Road.
Contact Dave Flessner at dflessner@timesfreepress.com or at 423-757-6340.