Chattanooga motorists enjoying some of the lowest gas prices in a decade

As motorists prepare to hit the road for the busy Fourth of July holiday this weekend, Chattanooga motorists are enjoying some of the lowest prices in a decade at the pump.

The average retail price of gasoline in Chattanooga fell by another 6.9 cents per gallon last week, dropping to an average price of $2.02 per gallon on Monday, according to GasBuddy’s daily survey of 170 gas outlets in Chattanooga. The decline marks the third consecutive week of falling gas prices in Chattanooga, although prices at the pump are still 48 cents per gallon higher than at the low point reached in February.

Chattanooga gas prices averaged 29 cents per gallon less than the U.S. average of $2.31 per gallon at the start of this week, according to gasoline price website GasBuddy.com.

Gas prices, on average, are 45.9 cents per gallon less than a year ago and $1.37 per gallon in Chattanooga below where they were two years ago. The price of a gallon of regular gas in Chattanooga fell Monday to as low as $1.82 per gallon at the Raceway on Highway 153 near Highway 27 in Hixson – the lowest price in the region.

Energy analysts said Monday they expected prices to head lower this week following last week’s vote by the British people to exit from the European Union.