Gas prices in Chattanooga jumped an average 10 cents per gallon in the past week, rising above $2 a gallon for the first time in nearly three months.
Average retail gasoline prices in Chattanooga rose a dime a gallon last week to $2.01 per gallon on Sunday, according to GasBuddy's daily survey of 170 gas outlets in Chattanooga. Chattanooga gas prices rose nearly three times as much as the United States as a whole last week, but local gas prices still average 20 cents per gallon below the US. average of $2.21, the to gasoline price website GasBuddy.com said today.
Including the change in gas prices in Chattanooga during the past week, prices Sunday were unchanged compared to the same day one year ago and are 26.1 cents per gallon higher than a month ago. The national average has increased 7.4 cents per gallon during the last month and stands 28.0 cents per gallon lower than this day one year ago.
"As the summer driving season wraps up, gasoline prices have risen for 14 consecutive days, thanks in large part due to a late-summer rally in oil markets, driven by OPEC threats," said Patrick DeHaan, senior petroleum analyst for GasBuddy. "While the final note may be a bit sour, the sweetness of what is still the cheapest summer gas in a decade will linger."
GasBuddy.com reported today that gas prices in the Chattanooga area were cheapest at stations on Signal Mountain Boulevard and near by Dayton Boulevard and Mountain Creek roads where seven stations are selling regular gas today at $1.75 per gallon.
Gas prices have been pushed higher in the past month by the rise in oil prices. But the price of oil today fell towards $49 a barrel due to high output from Middle East OPEC members and as a stronger U.S. dollar
Brent crude was 62 cents lower at $49.30 a barrel this morning. U.S. crude was down 60 cents at $47.04 in trading this morning.