How low can gas prices go? Another 3 cents at least.

CHATTANOOGA (WDEF) GasBuddy.com’s weekly price survey finds that a gallon dropped another 2.8 cents last week in Chattanooga.

The average price here hit $1.52 on Sunday.

Nationally, the average price dropped 2.5 cents last week to $1.80.

This time last year, the average price in Chattanooga was just going below $2.

“February looks to start the month with.. the lowest level since January 16, 2009,” said Patrick DeHaan, GasBuddy.com senior petroleum analyst.

“Crude oil prices have rebounded back above $30 per barrel in the last two weeks and with more talk of an organized cut in oil output between some of the world’s largest producers, there may be more upside potential in the future, should those talks pan out. For now, due to a lag time from rising oil prices, gasoline prices in many areas may continue to drift lower, but don’t be caught by surprise if in a few weeks they revert and move higher. Refiners have already begun some winter maintenance, and while supply of winter gasoline is abnormally high, once that inventory is liquidated, I fully expect gasoline prices to march higher,” DeHaan said.

The lowest price in our area right now is $1.37 in Cleveland at the Exxon at I 75 & Pleasant Grove Road.

GasBuddy.com reports the highest price in Chattanooga now is $1.42 at the Sam’s Club on Lee Highway.

You’ll also find $1.45 prices on Holtzclaw (Mapco,Speedway) Bonny Oaks (Speedway) & Jenkins Road (Shell).

And in north Georgia, the Costco has a $1.42 price.

Categories: Consumer News, Local News

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