Gas Prices Continue to Fall in the Chattanooga Area

CHATTANOOGA, Tenn. (WDEF)- Gas prices are continuing to fall in the Chattanooga area in line with the trend nationwide.

According to the latest GasBuddy survey, prices have fallen on average by ten cents in the past week to $3.36/gallon in the Chattanooga area, with a range of $3.13/gallon to $4.05/gallon. The average price is 64 cents lower than the average price this time last month and 56 cents lower than the national average of $3.92/gallon.

However, the average is still 60 cents above this time last year. The average price in Tennessee is $3.48/gallon, which is down nearly 11 cents in the past week.

The head of petroleum analysis at GasBuddy, Patrick De Haan, is cautioning that prices could rise again soon. He warns that, “The streak (of gas prices falling) is at great risk of being broken this week with wholesale gasoline prices having bounced back up some 40 cents per gallon as oil prices have rebounded. That means the decline in average prices could wrap up soon, with some price increases possible as early as this week.”