Gas prices heading back down in Chattanooga, but will Trump election change anything?
CHATTANOOGA (WDEF) – The GasBuddy.com survey finds that gas prices have dropped 3.7 cents per gallon in Chattanooga over the last week.
The average price is now $1.93, which is about a dime cheaper than in Knoxville, Nashville, Huntsville & Atlanta.
This compares to a 4.9% drop nationally.
But will the election affect gas prices in the long run?
“While it’s less than a week after the biggest upset in U.S. election history energy industry experts are already speculating on what steps a Trump Administration might enact first; whether the earliest initiatives might eliminate regulations or perhaps look to increase domestic oil and gas production,” said Gregg Laskoski, senior petroleum analyst for GasBuddy. “The Keystone XL Pipeline, for instance, is expected to find itself in a more favorable environment for approval but it remains debatable whether such a development would directly benefit U.S. consumers,” he noted.
“Over the next few weeks expect prices at the pump to move lower based on market fundamentals, not politics,” says Laskoski. “Inventories remain healthy and wholesale gasoline prices across the U.S. today, on average, are more than 10 cents per gallon lower than where they stood just a week ago.”
The best price in town right now is $1.82 at the Citgo and Kangaroo on Middle Valley Road.
The lowest in the Cleveland area is $1.87 (Pilot Pleasant Grove Rd, Murphy USA on Dalton Pike, BP Blue Springs Rd/APD 40)
Athens, Tennessee has several $1.89 prices on Decatur Pike, and Dalton has several $1.99 prices around town.