Michigan, Chattanooga Gas Prices Drop About 10 Cents Week

Gas prices have generally declined in Michigan and Chattanooga over the past week, with Michigan's average falling about 10 cents to $3.13 per gallon and Chattanooga's average dropping 9.4 cents to $2.59 per gallon. In Michigan, this represents a 6-cent decrease compared to last month and a 56-cent decrease compared to last year, with regional variations such as Ann Arbor having the highest prices and southwest Michigan counties reporting some of the lowest. Despite these local declines, the national average gas price has inched up slightly to $3.11 per gallon, though it remains about 33 cents lower than last year. The national diesel price remains relatively steady at around $3.71 per gallon. Analysts note that oil prices briefly touched $70 per barrel before sliding due to OPEC+ announcing increased production for September, which may keep gas prices under downward pressure amid ongoing economic uncertainties. Price variations persist widely, with some stations showing significant price differences in both states, reflecting ongoing volatility influenced by production decisions and economic factors.