Chattanooga gas prices fall 6 cents a gallon

The average price of a gallon of gasoline in Chattanooga fell another 6.3 cents per gallon in the past week, bringing the average price to $2.24 per gallon, according to GasBuddy’s daily survey of 170 gas outlets in Chattanooga.

Chattanooga gas prices are down nearly 20 cents a gallon in the past month and remain 41 cents per gallon below the U.S. average. Over the past year, gas prices have dropped 89.7 cents per gallon in Chattanooga.

“A sharp drop in the price of crude oil over the last several weeks has resulted in big declines at the gas pump,” said Patrick DeHaan, GasBuddy senior petroleum analyst. “A barrel of West Texas Intermediate crude oil has lost some $10 in value since early June at the hands of economic concerns in China and the prospects of Iranian crude adding to the global glut of oil as demand begins to fall ahead of the cooler months.”