Gas station owner says consumers will drive down prices even lower

Despite price gouging by oil companies

CHATTANOOGA (WDEF) – Since the Russian invasion of Ukraine over a month ago, Americans have seen a substantial rise in gas prices.

Drivers here in the Tennessee Valley are no exception.

However, prices at area pumps have been on a downward trend.

According to Triple A, the average cost per gallon in the state is $3.89.

That’s nearly 24 cents less than one month ago.

Steve Ray owns Midnite Oil in Ooltewah.

He says he believes oil companies are still gouging customers, but that will soon be exposed and back lash will lead to even lower prices.

“So you can expect all gasoline, I believe, to go down even further as we head into May, because the earnings reports will be coming out this month, from the oil companies for the first quarter of this year. And the earnings reports their profits are going to be astronomical. And they’re going to take some heat on that. And they will lower their prices even more.”

For now, drivers may have better luck finding lower prices In Georgia.

Governor Kemp’s suspension of the motor fuel excise tax runs through May 31st.