As national gas prices rise, prices in our area are finally dropping
After 3 weeks of big jumps, gas reporting sites say prices are finally coming down in Chattanooga
CHATTANOOGA, Tenn. (WDEF) – After three weeks of rising gas prices in our area, Chattanooga finally gets a break.
Both Gas Buddy and AAA report prices have dropped in our area over the last week.
Gas Buddy says Chattanooga prices fell 9.1 cents per gallon over the last week, averaging $3.34 per gallon.
We still are almost 37 cents more expensive than a month ago but lower than a year ago when we saw record prices.
The irony is that our local prices have trended the opposite of the national picture.
While our prices went up over the last month, the national average remained flat.
But now that the national prices are going up again, ours are dropping. Of course, Chattanooga is about 50 cents cheaper than the national average. And we still have the lowest prices in our region.
“The national average price of gasoline continues to hold near the highest level we’ve seen since last October, touching $3.84 per gallon. It could climb slightly higher as we get closer to Labor Day, as oil prices remain under pressure from recent OPEC+ production cuts,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
AAA’s Tennessee Gas Price for the entire state dropped 3 cents.
They say we are the 4th cheapest state in the country now,
“Gas prices moved slightly lower across Tennessee last week, which is a nice break from the recent trends we’ve seen. Gas prices previously rose 37 cents in a three-week period,” said Megan Cooper, spokeswoman for The Auto Club Group.
“While this is a welcome change, it’s uncertain how long this downward trend will last. Last week, gasoline futures rebounded to levels similar to what we were seeing earlier this month. For this week, drivers should continue to expect fluctuations in pump pricing and know that there is a possibility that gas prices may begin to move higher given the recent changes we’ve seen in the market.”
