Gas prices fall but still highest for March in four years

Gas prices fall but still highest for March in four years

Cleveland, Chattanooga post state's lowest fuel prices

March 12th, 2018 by Dave Flessner in Breaking News

Average retail gasoline prices in Chattanooga declined last week by another 2.5 cents per gallon, dropping to an average $2.21 per gallon on Sunday, according to GasBuddy's daily survey of 170 gas outlets in Chattanooga.

Chattanooga gas prices have dropped by 12.2 cents per gallon in the past month and remain 30 cents a gallon below the U.S. average of $2.51 per gallon. But GasBuddy surveys indicate local prices at the pump are still up 21.1 cents per gallon compared with the same time a year ago.

"Oil prices remain volatile yet several dollars off recent highs," said Patrick DeHaan, head of petroleum analysis for GasBuddy. "Gasoline prices remain in somewhat of a limbo as a result, with a mixed bag at pumps across the United States."

A separate survey by AAA Auto Club also released today said that average gas prices fell across Tennessee by an average of 1.5 cents per gallon with the cheapest fuel prices in the state in Southeast Tennessee.

AAA's survey of more than 130,000 service stations across the country showed that Tennessee gas prices averaged 21 cents a gallon less than the U.S. average and fell to a statewide average of $2.32 per gallon.

The AAA survey said the least expensive gas price averages in Tennessee are ow in Cleveland at $2.22 per gallon and in Chattanooga at $2.24 per gallon.

"Gasoline should slide a few cents more this week, based on last week's decline in wholesale prices," AAA spokesman Mark Jenkins said. "Pump prices are sliding right now because crude and gasoline output have remained strong. However, gas prices are still forecast to rise 20 cents in the coming months, as demand climbs and refineries switch to summer blend gasoline."

Despite the recent decline, gasoline still are at the highest average price for the month of March in four years, AAA said.

DeHaan also said he expects gas pries to head higher this spring.

"We're still expecting a surge (in prices), so motorists aren't off the hook by any means yet," DeHaan said.