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Chattanooga gas prices fall along with autumn leaves

FILE - In this April 6, 2015 file photo, a vehicle is refueled at a gas station in New Orleans. Rising gas prices in March led to a slight increase in inflation, a sign that some of the broader economic impact from cheaper oil is fading. The Labor Department says the consumer price index rose 0.2 percent in March. Inflation moved at that same pace in February, which ended three straight monthly declines caused largely by falling oil and gasoline prices. (AP Photo/Gerald Herbert)
FILE - In this April 6, 2015 file photo, a vehicle is refueled at a gas station in New Orleans. Rising gas prices in March led to a slight increase in inflation, a sign that some of the broader economic impact from cheaper oil is fading. The Labor Department says the consumer price index rose 0.2 percent in March. Inflation moved at that same pace in February, which ended three straight monthly declines caused largely by falling oil and gasoline prices. (AP Photo/Gerald Herbert) FILE - In this April 6, 2015 file photo, a vehicle is refueled at a gas station in New Orleans. Rising gas prices in March led to a slight increase in inflation, a sign that some of the broader economic impact from cheaper oil is fading. The Labor Department says the consumer price index rose 0.2 percent in March. Inflation moved at that same pace in February, which ended three straight monthly declines caused largely by falling oil and gasoline prices. (AP Photo/Gerald Herbert)

By Dave Flessner 2 min read

Gasoline prices fell along with the autumn leaves last week, cutting Chattanooga gas prices to their lowest level since the dead of winter last January.

The average price of a gallon of regular gas fell another 2.6 cents last week in Chattanooga to $1.84 a gallon, according to GasBuddy’s daily survey of 170 gas outlets in Chattanooga released Monday.

Chattanooga’s average gas prices are 32 cents per gallon below the U.S. average, according to GasBuddy.com

Gas prices at a handful of service stations on Signal Mountain Road remained Monday at $1.69 a gallon – the lowest in the region.

GasBuddy.com estimates the average price of gas in Chattanooga is 78.1 cents per gallon lower than on the same day a year ago and is 10.8 cents per gallon lower than a month ago.

“The gas price slide across much of the nation has continued for the third straight week,” said Will Speer, GasBuddy’s senior petroleum analyst. “Improving refinery rates paired with WTI-crude trading steadily around the $46 per barrel range will keep downward pressure on gas prices through November.”

Oil prices fell Monday over concerns about slower Chinese growth and continued growth in global oil production.

“Today we have bearish China statistics, rising Russian crude-oil exports, rising OPEC production and the risk should be skewed to the downside,” Bjarne Schieldrop, commodities analyst at SEB Markets, said in a report Monday.

Light, sweet crude for December delivery declined 45 cents per barrel to $46.14 a barrel on the New York Mercantile Exchange. Brent, the global benchmark, fell 77 cents to $48.79 a barrel on ICE Futures Europe.

Contact Dave Flessner at dflessner@timesfreepress.com or at 423-757-6340.

Lowest Gas Prices in Chattanooga
Chattanooga Gas Prices provided by GasBuddy.com