Gas Prices Rise 2.2 Cents In Chattanooga

Monday, April 25, 2016

Average retail gasoline prices in Chattanooga have risen 2.2 cents per gallon in the past week, averaging $1.92 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 2.4 cents per gallon in the last week to $2.14 per gallon, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Chattanooga during the past week, prices Sunday were 40.8 cents per gallon lower than the same day one year ago and are 1.2 cents per gallon lower than a month ago.

The national average has increased 10.7 cents per gallon during the last month and stands 38.8 cents per gallon lower than this day one year ago.

According to GasBuddy historical data, gasoline prices on April 25 in Chattanooga have ranged widely over the last five years:
$2.33 in 2015, $3.54 in 2014, $3.23 in 2013, $3.66 in 2012 and $3.67 in 2011.

Areas nearby Chattanooga and their current gas price climate:
Knoxville- $1.94, up 2.2 cents per gallon from last week's $1.91.
State of Tennessee- $1.95, up 2.6 cents per gallon from last week's $1.92.
Huntsville- $1.92, up 1.4 cents per gallon from last week's $1.90.

“The oil markets this past week shrugged off OPEC’s inability to reach an agreement for production freezes at the highly-touted meeting in Doha, Qatar. West Texas Intermediate crude futures responded to a brighter demand picture that perked prices up to $43.73 per barrel for Friday’s close. Leading the demand surge has been gasoline, where the Energy Information Administration (EIA) shows year-to-date demand to be up 3.4% from last year and up 7.4% from 2014 according to their ‘product supplied’ demand indicator,” said Will Speer, a Houston-based senior petroleum analyst for GasBuddy. “Unsurprisingly, this has impacted retail gasoline prices, causing 43 of the 50 states to raise prices from a week ago. Low prices have ignited the early demand surge this year, and the surge is expected to continue into the summer, where demand hits its peak for the year."