Chattanooga motorists enjoyed the cheapest gas prices on a July 4th weekend in more than a decade as prices at the pump declined last week for the fourth consecutive week.
The average retail gasoline prices in Chattanooga dropped by another 5.2 cents per gallon in the past week, averaging $1.93 per gallon on Monday, according to GasBuddy's daily survey of 170 gas outlets in Chattanooga released today.
The online gas reporting service said Chattanooga gas prices averaged 33 cents per gallon less than the U.S. average of $2.26 per gallon. Gasbuddy.com said the cheapest gas in Chattanooga today is only $1.79 per gallon at Citigo and Kangaroo gas stations in Middle Valley,
Chattanooga gas prices have dropped by 25.5 cents per gallon in the past month and are now 50.3 cents per gallon lower than the same day one year ago.
"While prices have come down, we now head to the time of year when hurricane season enters the picture," Patrick DeHaan, senior petroleum analyst for GasBuddy, said in a report today. "In the last couple of years we have seen minimal to no disruption as hurricane season largely went by with no major storms that hit land. Should we see a major hurricane enter the Gulf, gas prices may react. For the week ahead, expect much of the country to see prices continue to trickle lower."
DeHaan said Americans are traveling in record numbers this summer due to lower gas prices. But improved gas mileage and strong oil production has kept gas prices at their lowest levels since 2005.
"Any way you slice it, this summer has featured the cheapest Memorial Day, July 4 and perhaps Labor Day in the last 11 years, and motorists have been responding by hitting the roads in record numbers, " DeHaan said.
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| Chattanooga Gas Prices provided by GasBuddy.com |