Average gasoline prices in Chattanooga have fallen 10.4 cents per gallon in the last week, averaging $2.61/g today, according to GasBuddy's survey of 170 stations in Chattanooga.
Prices in Chattanooga are 6.5 cents per gallon lower than a month ago and stand 66.3 cents per gallon lower than a year ago.
According to GasBuddy price reports, the cheapest station in Chattanooga was priced at $2.32/g yesterday while the most expensive was $2.89/g, a difference of 57.0 cents per gallon. The lowest price in the state yesterday was $2.32/g while the highest was $4.11/g, a difference of $1.79/g.
"Last week was another mixed bag at the pump for many Americans, but there may be some promising short-term news from OPEC+, which has agreed to increase oil production starting in June," said Patrick De Haan, head of petroleum analysis at GasBuddy. "Here in the U.S., slightly more than half of the states saw gas prices rise, while many others saw modest declines. We continued to see price cycling in states prone to such movements, including much of the Great Lakes region, as well as in Maryland, Florida, and parts of Texas. However, the most notable development is OPEC+'s decision to raise production next month, as oil prices hover near their lowest levels since the pandemic."
The national average price of gasoline has risen 2.0 cents per gallon in the last week, averaging $3.12/g today. The national average is down 12.0 cents per gallon from a month ago and stands 49.6 cents per gallon lower than a year ago, according to GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country. The national average price of diesel has increased 0.2 cents in the last week and stands at $3.501 per gallon.
"While gasoline inventories have been tightening due to ongoing refinery maintenance — which has limited how much gas prices have fallen in response to lower oil — refinery output is expected to rise soon," De Haan,added. "As maintenance wraps up, we could see an increase in gasoline supply and a national average that may soon dip below $3 per gallon."
Historical gasoline prices in Chattanooga and the national average going back ten years:
- May 5, 2024: $3.27/g (U.S. Average: $3.62/g)
- May 5, 2023: $2.96/g (U.S. Average: $3.53/g)
- May 5, 2022: $3.93/g (U.S. Average: $4.27/g)
- May 5, 2021: $2.61/g (U.S. Average: $2.94/g)
- May 5, 2020: $1.46/g (U.S. Average: $1.78/g)
- May 5, 2019: $2.46/g (U.S. Average: $2.89/g)
- May 5, 2018: $2.51/g (U.S. Average: $2.81/g)
- May 5, 2017: $2.05/g (U.S. Average: $2.35/g)
- May 5, 2016: $2.08/g (U.S. Average: $2.22/g)
- May 5, 2015: $2.41/g (U.S. Average: $2.63/g)
Neighboring areas and their current gas prices:
- Knoxville- $2.70/g, down 4.0 cents per gallon from last week's $2.74/g.
- Tennessee- $2.68/g, down 7.3 cents per gallon from last week's $2.76/g.
- Huntsville- $2.71/g, down 1.3 cents per gallon from last week's $2.73/g.
GasBuddy is the authoritative voice for gas prices and the only source for station-level data. GasBuddy's survey updates 288 times every day from the most diverse list of sources covering nearly 150,000 stations nationwide, the most comprehensive and up-to-date in the country.
GasBuddy's averages, graphs, maps and historical pricing data covering the U.S. and Canada is available 24/7 at prices.GasBuddy.com.