Bradenton gas prices closing in on pre-Hurricane Harvey levels

Bradenton gas prices closing in on pre-Hurricane Harvey levels

Bradenton gas prices closing in on pre-Hurricane Harvey levels

The average price of regular gas in Chattanooga dropped by 8.6 cents per gallon in the past week to $2.11 per gallon on Sunday - the lowest price since late August before Hurricane Harvey pushed up gas price, according to GasBuddy's daily survey of 170 gas outlets in Chattanooga.

Never has that been more evident than with hurricanes Harvey and Irma.

Since the peak, prices have dropped 40 cents a gallon, or about a penny a day. "The good thing is that the driving season is behind us and that puts less of a strain on suppliers". Meanwhile, Idaho prices have dropped six cents per gallon.

In Central Florida, there also is steep competition from national competitors Wawa, 7-Eleven and RaceTrack, which can buy their own unbranded gasoline and try to undercut competitors. “Reduced demand and the conversion to cheaper-to- produce winter-blend fuel are starting to apply downward pressure on pump prices throughout the state. "Perhaps even more wild is that the national average has now remained under $3 per gallon for almost three years". The cycle then repeats. Oil prices, meanwhile, gained nearly a dollar last week after the EIA reported a 5.7 million barrel decline in oil supply and a drop in production of 1 million barrels per day.

Retail prices remain about 5-10 cents higher than where they should be.

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Regular Unleaded Gasoline: Gas prices keep falling in the southeast.

While not quite back to pre-Hurricane Harvey levels, gas prices continue to work their way down locally and around the country.

According to Patrick DeHaan, head of petroleum analysis for GasBuddy, the nation experienced the longest decline in prices since the summer of 2016.

The national average for gasoline has been below $3 a gallon for more than three years now and doesn't look like it will break that mark in the coming months.

Those were the days - or years, to be precise - when gas prices routinely were above $3.00 a gallon.

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