The price of gasoline was priced below $2 a gallon Thursday at service stations in Hixson, Ooltewah, Collegedale and Ringgold, Ga., as Chattanooga continues to boast some of the lowest gas prices in the Mid-South.
Eight area gas stations Thursday are selling regular gas at $1.99 per gallon, according to daily surveys by GasBuddy.com.
The only stations anywhere in Alabama, Tennessee or Georgia selling cheaper gas Thursday are a AAFES station in Fort McClellan, Alabama where gas is priced at $1.93 a gallon, and a Circle K station in Smyrna, Tennessee, where gas is priced at $1.96 a gallon.
The local stations with $1.99 regular gas Thursday include Shell at 3640 Hixson Pike, Walmart at 2901 Hixson Pike; BP at 4849 Hixson Pike, Circle K at 5020 Little Debbie Road in Collegedale, BP at 8935 Lee Highway in Ooltewah, Raceway at 9208 Lee Highway in Ooltewah, the Sam's Club at 6101 Lee Highway in Ooltewah and the Costco station at 100 Cobb Parkway in Ringgold, Georgia.
GasBuddy.com said the average price of regular gas in Chattanooga has dropped by 20 cents a gallon in the first month of 2020 and now averages 37 cents a gallon less than the U.S. average price of $2.49 a gallon.
Gas prices have dropped along with crude oil prices, which have declined due to sluggish gas demand and abundant oil supplies. The Energy Information Administration reported Wednesday that U.S. crude supplies rose by 3.5 million barrel in the past week. Demand for gasoline continues to be restrained by the rise of electric-powered vehicles, improved fuel efficiency of gas-powered cars and the slower pace of economic growth and travel.
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