Local gas prices drop last week
After nearly two months of rising fuel costs, the price at the gas pump in Chattanooga fell for a second consecutive week last week.
The average price of regular gas dropped another 0.4 cents per gallon in the past week, averaging $2.58 per gallon on Monday, according to GasBuddy’s daily survey of 170 stations in Chattanooga. Gas prices in Chattanooga are 16.6 cents per gallon higher than a month ago and stand 92.5 cents per gallon higher than a year ago.
Despite the jump in gas prices so far in 2021, Chattanooga gas prices remain 26 cents a gallon below the U.S. average of $2.84 a gallon, GasBuddy.com said.
“After the feverish rise in gas prices to start the year, increases have largely tapered off and we’re now seeing decreasing prices in most areas of the country, thanks to oil prices that have moderated for the time being,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “Last week saw total gasoline demand at yet another pandemic high according to GasBuddy data. As we approach warmer weather and motorists are increasingly getting outside, it could drive prices higher, so long as COVID-19 cases don’t jump along with it and lead to new travel restrictions.”