Sum­mer gas prices low­est in a decade

Chattanooga Times Free Press - - BUSINESS -

Me­mo­rial Day trav­el­ers en­joyed the cheap­est gas prices in Chat­tanooga in 12 years over the week­end with the av­er­age price of gas in Chat­tanooga at the start of this week priced 13.7 cents per gal­lon less than a year ago and $1.42 a gal­lon be­low the peak lev­els reached three years ago, ac­cord­ing to Gas­Buddy’s daily sur­vey of 170 gas out­lets in Chat­tanooga.

The av­er­age price of a gal­lon of reg­u­lar gas this week in Chat­tanooga was un­changed from the pre­vi­ous week at $2 a gal­lon. Lo­cal gas prices av­er­age 36 cents per gal­lon be­low the U.S. av­er­age and were 10 cents per gal­lon less than the statewide av­er­age across all of Ten­nessee.

Pa­trick DeHaan, se­nior petroleum an­a­lyst for Gas­Buddy.com, said mo­torists in 13 states, in­clud­ing Ten­nessee, Ge­or­gia and Alabama, en­joyed the cheap­est Me­mo­rial Day gas prices since 2005.

“This sets up a great sum­mer sea­son to hit the road, point­ing to ris­ing U.S. oil pro­duc­tion in the midst of oil pro­duc­tion cuts from OPEC for the sta­ble prices,” he said.

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