The gas price freefall could be ending

CHATTANOOGA (WDEF) – After weeks of multi-cent price drops, the decline might be finally slowing in our area.

The GasBuddy.com weekly price check found that prices only declined by 0.3 cents a gallon for an average of $2.10.

The national decline was just 0.6 cents.

Chattanooga has seen a 33.6 cent drop in the last month.

We still have the cheapest gas in the region.

But have we hit rock bottom, yet?

“Oil prices have rebounded in the last week, led higher by geopolitical tensions and declining inventories, leading gasoline prices in some parts of the country to make an unseasonable move higher,” said Patrick DeHaan, head of petroleum analysis for GasBuddy.

“As refineries continue autumn maintenance, we may continue to see gasoline inventories under pressure, with a mixed bag of increases and decreases in the weeks ahead until the conclusion of such maintenance.”

“Meanwhile, exports of crude oil and refined products continue to hit record levels, also weighing on markets. Without the ability to export crude oil, inventories in the U.S. would have continued to increase, keeping pressure on oil prices, but without such protection, oil is flowing out of the U.S. at record pace.”

The cheapest gas in Tennessee right now in Ooltewah.

$1.91 (Raceway & Mapco) and $1.92 (both Lee Hwy BPs)

Cleveland has a $1.93 price at the BP on Georgetown Pike.

There are several other $1.94 prices on 25th street.

In Chattanooga, the best prices now are on Signal Mountain Road.

Both the Raceway and Murphy USA have $1.94 prices, while the Circle K is a penny higher.