Gas prices continued a month-long decline last week, cutting the average price of a gallon of regular gas below $2 a gallon again in Chattanooga.
The gasoline price website GasBuddy.com said today that average retail gasoline prices in Chattanooga declined another 1.5 cents per gallon last week to $1.98 per gallon on Sunday. Chattanooga gas prices averaged 28 cents a gallon less than the U.S. average.
More than a dozen local stations are selling regular gas today for as low as $1.91 per gallon, according to survey of 170 retail stations in Chattanooga by GasBuddy.com
Despite the recent decline in prices, fuel costs are still up from the decade-low prices reached a year ago. Chattanooga gas prices Sunday averaged 49.2 cents a gallon more than a year ago when regular gas prices fell to only $1.49 a gallon.
But gas prices are still 40 percent below the peak prices reached in early February five years ago.
"Gasoline prices nationally have continued their typical seasonal trajectory lower," Patrick DeHaan, senior petroleum analyst for GasBuddy.com, said in a statement today. "Gasoline inventories have continued to show impressive gains lately, limiting the effects of rising oil prices on gasoline prices for the time being."