Average gasoline prices in Chattanooga have fallen 34.2 cents per gallon in the last week, averaging $3.67/g today, according to GasBuddy’s survey of 170 stations in Chattanooga. Prices in Chattanooga are 21.7 cents per gallon lower than a month ago and stand $1.07/g higher than a year ago.
According to GasBuddy price reports, the cheapest station in Chattanooga was priced at $3.30/g yesterday while the most expensive was $4.49/g, a difference of $1.19/g. The lowest price in the state yesterday was $3.30/g while the highest was $4.99/g, a difference of $1.69/g.
“Average gasoline prices declined in all 50 states over the last week, with GasBuddy now tracking 15 states where the average price of gasoline has fallen below $4 per gallon, offering motorists some of the most widespread relief seen in weeks,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “Much of the decline was driven by falling oil prices and the unwinding of recent price cycles, as growing optimism surrounding a potential U.S.-Iran agreement helped ease concerns over global oil supplies.”
De Haan added, “Diesel prices also posted a substantial decline, falling more than 15 cents per gallon nationally. However, the coast is anything but clear. Oil prices edged higher Sunday evening as uncertainty surrounding a potential deal persisted and renewed Israeli attacks added another layer of geopolitical risk. While motorists may continue to see some short-term relief, some price-cycling states could soon experience another upward swing as retailers run out of room to lower prices further. Overall, any setback in negotiations could quickly reverse the recent decline in fuel prices.”…