Gas prices take another nickel plunge in Chattanooga

CHATTANOOGA (WDEF) – Gas is getting much cheaper in the Chattanooga area following the Fourth of July.

According to the GasBuddy.com daily survey, prices dropped 4.7 cents last week to $1.88.

That’s even better than the 3.4 cent drop nationally.

We’re now more than a dime cheaper than prices in Knoxville or Huntsville.

“Even an uptick in demand for gasoline during the Fourth of July weekend couldn’t slow falling retail gasoline prices. The average retail gasoline price for the United States has dropped for 26 consecutive days, where it now sits at $2.23 per gallon. This translates to a 16 cent drop in gas prices since the streak started. These falling gas prices have been supported by the price of West Texas Intermediate crude losing 7.3% of its value in one week’s time,” said Will Speer, senior petroleum analyst for GasBuddy.

The cheapest gas in town right now is $1.76 at the Sam’s Club on Lee Highway.

We also have $1.78 at the RaceWay at Hwy 153 & 27, Citgo at 153 & Carmack, and Murphy USA on Brainerd Road.

The Costco in Ringgold is also down to $1.76.