Gas prices drop for 5th straight week as TVA cuts fuel cost adjustment

Detail of a hand holding a fuel pump at a station gas tile gasoline gas pump tile / Getty Images

Concerns over a global slowdown and trade war may be hurting some investors, but Chattanooga energy consumers continue to benefit from cheaper gasoline and power costs.

Gasoline prices fell for the fifth consecutive week last week, cutting prices at the pump by 24.3 cents per gallon from where it was a month ago and leaving prices at the pump in Chattanooga 33 cents a gallon less than a year ago, according to GasBuddy's daily survey of 170 stations in the Chattanooga area.

At the same time, electricity will get cheaper in the Tennessee Valley next month, bringing the price of power back down to where it was a year ago. TVA's monthly fuel cost adjustment will drop to its lowest price in September since the utility began adjusting part of its power rates based upon fuel expenses.