Gas prices fall to 6-month low
Gas prices fell another 2.7 cents per gallon last week in Chattanooga, dropping to the lowest level in nearly six months and 60.3 cents a gallon less than a year ago.
The average price of gas at the start of this week in Chattanooga was $1.69 per gallon for regular fuel, according to GasBuddy’s daily survey of 170 stations. Gas prices in Chattanooga average 40 cents a gallon less than the U.S. average of $2.09 per gallon.
“As expected, previous weakness in oil has continued to translate into falling gasoline prices nearly nationwide as motorists cast their ballots last week, but the six week trend could reverse on optimism that President-elect Biden may move quickly to get organized and Sen. Majority Leader McConnell has said stimulus is high on his agenda, aiding the economy and oil demand,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “I could see pessimism and lower prices return, but for now, it appears that a solid dose of optimism may soon drive prices up.”
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