Chattanooga leading the way in gas price drop

CHATTANOOGA (WDEF) Gas prices are falling just about everywhere, but not like here in Chattanooga.

The GasBuddy.com survey found that local prices fell 7 cents per gallon over the last week, to an average of $2.01.

That compares with 3.7 cents nationally.

Prices in Chattanooga are now just over 8 cents a gallon cheaper than a month ago.

And we are much cheaper than our neighbors, $2.12 in Knoxville, $2.14 in Huntsville, $2.13 in Nashville.

“Gasoline prices in much of the country are eroding at a time of year when such a downward fall is anything but par for the course,” said Patrick DeHaan, senior petroleum analyst for GasBuddy.com.

“Prices now lay on the fringe of falling under the same point as last year as this year’s usual spring rally has been the weakest in recent memory. Factors playing a role: weak demand and strong production, which continue to weigh on OPEC’s output cut last November designed to cause prices to rise. The recent drop in crude oil is posing a much more serious threat and OPEC must soon decide how much market share it will sacrifice to keep oil prices higher- clearly the last cut just isn’t enough.”

And the prognosis from here is good news for summer drivers.

“While oil remains in focus, U.S. refiners have concluded maintenance season and may soon sputter due to inventories that are bulging with weak gasoline demand the story thus far in 2017, leaving gasoline prices in a weak state- perfect for motorists planning summer road trips.”

Signal Mountain Road is definitely the place to go to find the cheapest gas now.

The Cricle K and Murphy USA have the cheapest at $1.91, but the low 90s rule up and down the road and Mountain Creek.

The cheapest gas in Cleveland is $1.94 at the Gas N Go on Ocoee Crossing.

And Athens has a $1.94 price at the Marathon on Englewood.

The Gas Buddy map for Chattanooga:

Categories: Chattanooga, Cleveland, Local News, McMinn County

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