Gas Prices See Significant Drop in Chattanooga
Chattanooga residents were greeted with some good news at the gas pumps this week as prices dramatically fell. According to the latest survey, average gasoline prices in the city decreased by 12.8 cents per gallon over the past week, bringing the average to $2.65 per gallon on Monday.
Current Trends in Chattanooga
This decline is noteworthy, as prices in Chattanooga have not only dropped from last week but are also 22.7 cents lower than a month ago. Furthermore, compared to the same time last year, residents are enjoying a difference of 61.2 cents per gallon lower.
The data comes from GasBuddy, which carries out weekly price surveys across 170 gas stations in the Chattanooga area. On Sunday, the most affordable gas station in the city was offering fuel for just $2.51 per gallon. In contrast, the highest price observed was $3.07, leading to a noteworthy price gap of 56.0 cents per gallon within the city.
State and National Gas Prices
Historical Comparison
Looking back at historical prices can give context to the current situation. For comparison, here are the gas prices for Chattanooga and the national average over the past ten years for the same date:
- September 9, 2023: $3.27/g (U.S. Average: $3.80/g)
- September 9, 2022: $3.11/g (U.S. Average: $3.71/g)
- September 9, 2021: $2.81/g (U.S. Average: $3.17/g)
- September 9, 2020: $1.88/g (U.S. Average: $2.19/g)
- September 9, 2019: $2.12/g (U.S. Average: $2.56/g)
- September 9, 2018: $2.48/g (U.S. Average: $2.84/g)
- September 9, 2017: $2.55/g (U.S. Average: $2.66/g)
- September 9, 2016: $1.96/g (U.S. Average: $2.18/g)
- September 9, 2015: $1.91/g (U.S. Average: $2.38/g)
- September 9, 2014: $3.13/g (U.S. Average: $3.43/g)
Gas Price Forecast
According to Patrick De Haan, the head of petroleum analysis at GasBuddy, this trend seems to be continuing. “For the sixth straight week, gas prices have dropped to their lowest since winter,” he stated. He further noted that more than 45,000 gas stations across 11 states are currently offering gas prices below $3 per gallon.
As we move into fall and with oil prices dropping below $70 per barrel, there seems to be potential for even lower gas prices in the coming weeks. Predictions indicate that the national average could fall below $3 per gallon for the first time since 2021, a development that motorists and politicians alike are likely to welcome.
Price Changes in Nearby Areas
As Chattanooga drivers head to their local gas stations, they can feel good about saving a few extra cents at the pump recently and could potentially see even lower prices in the near future.
