After falling through June and July, gas prices rose in Chattanooga last week by an average 4.5 cents per gallon, according to GasBuddy's daily survey of 170 gas outlets in Chattanooga.
But the local average price of $1.79 on Sunday for a gallon of regular gas was still 33 cents per gallon below the U.S. average of $2.12 per gallon. Nationwide, gas prices dipped an average of a half cent per gallon in the past week so much of the increase in local prices may reflect local markets returning closer to other markets. Last week, Cleveland and Chattanooga had the lowest gas prices in the United States with prices 38 cents below the U.S. average in the end of July..
Including the change in gas prices in Chattanooga during the past week, gas prices Sunday in Chattanooga were 39.9 cents per gallon lower than the same day one year ago and are 11.4 cents per gallon lower than a month ago.
Chattanooga gas prices were still below most Tennessee cities and prices at both the Mapco and Raceway stations on Rossville Boulevard are only $1.62 per gallon today - the lowest prices in the region, according to GasBuddy.com
"Energy Information Administration data last week showed a sizable draw on gasoline inventory followed by a strong jobs report, with new jobs for July reaching 255,000. And consequently, WTI crude oil ended the week nearly $3 higher than where it began," said Gregg Laskoski, senior petroleum analyst for GasBuddy.
"While that may create a brief pause early this week in the decline of retail gasoline, we expect that the prevailing price trend (incremental decline) will resume shortly, barring any additional refinery problems in the Midwest, or, potential Atlantic hurricane activity," he said.
See local prices at Gasbuddy.com