Gas Prices Rise 5.6 Cents In Chattanooga

Monday, February 22, 2016

Average retail gasoline prices in Chattanooga have risen 5.6 cents per gallon in the past week, averaging $1.49 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 1.9 cents per gallon in the last week to $1.71 per gallon, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Chattanooga during the past week, prices Sunday were 64.5 cents per gallon lower than the same day one year ago and are 6.9 cents per gallon lower than a month ago.

The national average has decreased 13.1 cents per gallon during the last month and stands 58.4 cents per gallon lower than this day one year ago.

According to GasBuddy historical data, gasoline prices on Feb. 22, in Chattanooga have ranged widely over the last five years:
$2.14 per gallon in 2015, $3.12 per gallon in 2014, $3.62 per gallon in 2013, $3.49 per gallon in 2012 and $3.06 per gallon in 2011.

Areas nearby Chattanooga and their current gas price climate:
Knoxville- $1.48, down 2.6 cents per gallon from last week's $1.51.
Tennessee- $1.50, up 0.5 cents per gallon from last week's $1.50.
Huntsville- $1.52, down 0.4 cents per gallon from last week's $1.52.

“Many motorists in the Midwest saw an ugly surprise at the gas pumps last week, as prices spiked as high as 23 cents per gallon in one week’s time in places," said Will Speer, a GasBuddy senior petroleum analyst. "The spike occurred on the back of news that Midwest refineries were reducing production rates due to poor economics. The rest of the U.S. enjoyed another week of declining gas prices. The largest decline in retail gas prices occurred in Southern California, as the wholesale gasoline price fell to the cheapest in the country. Expect West Coast motorists to reap the benefits of these low wholesale prices at the pump in the upcoming week."