Gas Prices Rise 2.4 Cents In Chattanooga

Monday, February 17, 2014

Average retail gasoline prices in Chattanooga have risen 2.4 cents per gallon in the past week, averaging $3.11 per gallon on Sunday, according to GasBuddy's daily survey of 170 gas outlets in Chattanooga. This compares with the national average that has increased 5.0 cents per gallon in the last week to $3.34 per gallon, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Chattanooga during the past week, prices on Sunday were 45.6 cents per gallon lower than the same day one year ago and are 5.4 cents per gallon higher than a month ago. The national average has increased 6.1 cents per gallon during the last month and stands 34.3 cents per gallon lower than this day one year ago.

"After weeks of relative stability with little change in gas price nationally, we've seen a new trend develop that has sent the national average to its highest level since mid-October," said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. "Oil prices have recently surpassed $100/bbl, a $6/bbl jump since we began 2014, and unfortunately this new trend may signal the beginning of "March Madness", the time of year that brings large spikes in gas prices. Very few stations have gasoline under $3/gal, and I expect those few stations will all but dry up over the next couple weeks. The national average will likely rise 35-50 cents per gallon by the time gasoline prices peak in April or May, ahead of the start of the summer driving season that brings the switch to more expensive, cleaner burning summer gasoline."


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