Gas prices continued their three-week-long decline last week, cutting the average price of gas in Chattanooga another 3.3 cents per share to $2 per gallon, according to GasBuddy’s daily survey of 170 gas outlets in Chattanooga.
Local gas prices on Sunday were 26 cents per gallon below the U.S. average.
This compares with the national average that has fallen 3.3 cents per gallon in the last week to $2.26/g, according to gasoline price website GasBuddy.com.
“For the 22nd straight day, the national average for a gallon of gasoline has dropped, the longest such streak since last summer,” said Patrick DeHaan, senior petroleum analyst for GasBuddy. “Average prices now stand at their lowest thus far in 2017 and the lowest since before Christmas, thanks primarily to weak demand for gasoline and also bulging inventories of gasoline.”
Including the change in gas prices in Chattanooga during the past week, local gas prices are still 47.5 cents per gallon higher than the same day one year ago when gas averaged only $1.53 per gallon. Gas is also slightly above the price of two years ago but it is more than third below the price on this date in 2014 when gas averaged $3.03 per gallon and 40 percent below the peak levels reached in 2012 when gas averaged $3.31 per gallon on this date.