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Chattanooga area gas prices edge even lower

Chattanooga gas prices, which edged higher during September, fell 1.3 cents per gallon last week to an average of $1.92 per gallon, according to gasoline price website GasBuddy.com.

Chattanooga gas prices Sunday averaged 39 cents per gallon less than the U.S. average of $2.31 per gallon and were 98.1 cents per gallon below the same time a year ago.

GasBuddy reports today that the cheapest gas in the Chattanooga area is at the Murphy Express station on Lee highway at $1.74 per gallon.

Average pump prices in Chattanooga rose two weeks ago and were relatively flat last week due to higher oil prices, which are now pushing national gas prices higher also.

“A majority of states saw gasoline prices jumping over the last week thanks to a upward move in oil prices as well as refinery maintenance season getting underway, constricting gasoline output,” Patrick DeHaan, senior petroleum analyst for GasBuddy.com, siad in a report today. “I believe the rebound is somewhat of a head fake as the oil market remains oversupplied. It will be a temporary rebound, with oil and gasoline prices moving lower again in the months ahead, allowing for relief at the pump again in the months ahead, and we’re sticking to our previous guidance: $1.98 per gallon nationally by Christmas.”

The price of West Texas Intermediate oil rose last week to nearly $50 per barrel, up from $38 per barrel in August. Crude oil was trading down slightly this morning at $49.37 per barrel on the New York Mercantile Exchange.

In related news, Fill ‘er up: Gas prices dropping.

Lowest Gas Prices in Chattanooga

Chattanooga Gas Prices provided by GasBuddy.com

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