Gas prices drop to a 5-month low in Chattanooga

Staff file photo / Ben Michaels pumps gas into his car at the Speedway gas station on the corner of S. Holtzclaw Ave. and East Third Street.

Average gasoline prices in Chattanooga fell for the eighth consecutive week last week, dropping another 16 cents a gallon to the lowest level in five months, according to GasBuddy's survey of 170 stations in Chattanooga.

Chattanooga motorists are still paying 65.6 cents a gallon more than they did a year ago. But the average price of regular gas at $3.46 a gallon in Chattanooga at the start of this week is down by more than $1 a gallon from the price peak reached in June. Gasbuddy.com surveys also indicate that Chattanooga fuel prices, on average, are 55 cents a gallon below the national average and 12 cents a gallon below the statewide average in Tennessee.

"The national average is poised to fall back under $4 per gallon as early as today as we see the decline in gas prices enter its eighth straight week," Patrick De Haan, head of petroleum analysis at GasBuddy, said in a statement early Monday morning.