Gas prices rise to highest level since September 2015

Gas prices rise to highest level since September 2015

April 17th, 2017 by Dave Flessner in Breaking News

Gas prices last week rose to a 19-month high as oil prices jumped by more than $6 a barrel over the past couple of weeks.

The average price of regular gas in Chattanooga increased 2.7 cents per gallon to $2.12 per gallon, according to GasBuddy's daily survey of 170 gas outlets in Chattanooga. Local gas prices have risen 14.3 cents per gallon in the past month and are up 22 cents a gallon, or more than 10 percent, from the same time a year ago.

For the first time this year, no service stations in the Chattanooga area are still selling gas below $2 a gallon with the cheapest prices available in the region today at $2.02 per gallon at a Citgo station in Middle Valley.

But GasBuddy.com surveys show Chattanooga gas prices are still 28 cents per gallon below the U.S. average of $2.40 per gallon. Chattanooga gas prices also are lower than other mid-South markets.

"The national average gasoline price climbed to its highest level since Sept. 5, 2015 on the $6 per barrel rise in oil prices over the last few weeks, supported by last week's decline in oil inventories and pressure from geopolitical tensions," said Patrick DeHaan, senior petroleum analyst for GasBuddy.com. "The national average may reach its peak for the year in the next few weeks barring major escalation in Syria as refiners have generally concluded seasonal maintenance work and summer gasoline's May 1st deadline for refiners is just around the corner."


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