Gas prices dip below $3 in area

Gas prices dip below $3 in area

December 24th, 2011 by Staff Reports in Business Around the Region

Gas prices dip below $3 in area

Gasoline prices dropped below $3 a gallon at some service stations in Chattanooga and North Georgia despite a rise in oil prices Friday above $100 per barrel.

According to Gasbud, the price of a gallon of regular gas dropped Friday to as low as $2.97 per gallon in Chattanooga at Sam's Club on Lee Highway. The average for Chattanooga area stations on Friday was under $3.07 per gallon, down 7 cents from a month ago, according to AAA Fuel Gauge report. The drop in prices at the pump came despite a rise in oil prices above $100 Friday due to worries about the Middle East.

Suit tries to halt Winn-Dixie sale

A lawsuit has been filed to try to stop the sale of grocery chain Winn-Dixie to South Carolina-based Bi-Lo.

The companies Monday announced an agreement for Winn-Dixie to merge with Bi-Lo in a $560 million deal. Winn-Dixie shareholders would receive $9.50 per share.

However, Jacksonville attorney Charles Jimerson, representing shareholders, said that's not enough, according to the The Florida Times-Union.

He told the newspaper the shares traded as high as $10.08 as recently as July and there are a couple of book value reportings around the $15 range.