For the first time in weeks, gas prices actually drop

CHATTANOOGA (WDEF) – For the first time since November, gas prices declined across the United States last week, according to the survey.

Prices fell 2.5 cents both in Chattanooga, and across the country.

The Chattanooga average now is $2.07 while the national average is $2.34.

Prices in Chattanooga are still running 45 cents higher than they were a year ago.

“For the first time since November, the national average price for gasoline has fallen over the last week, helped by weak demand and rising gasoline inventories,” said Patrick DeHaan, senior petroleum analyst for GasBuddy.

“This downward trend is evident in over two-thirds of states but may take additional time to materialize in others, yet is a familiar pattern for late winter as refiners build inventories prior to the late-February start of refinery maintenance season and thanks to the year’s weakest demand occurring over the next four weeks. However, motorists shouldn’t expect the trend to last long. After the sweetness of Valentine’s Day roses and chocolates is gone, they will be in store for a jump at the pump as maintenance season begins and the long transition to summer gasoline becomes a pinch point, leading to gas prices that will mostly trend higher for two to three months.”

The cheapest price in our area now is $1.95 in Chattanooga in the Mountain Creek area.

The Murphy USA on Decatur Pike in Athens has a price of $1.96.

The best price in Cleveland today is $1.99 at various dealers.

Categories: Chattanooga, Cleveland, Consumer News, Local News

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