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Chattanooga business briefs: Gas prices, power costs and bank penalties

Nathan Phelps, 45, fills his tank with gas Monday at the Midnite Oil/Shiv Food Mart, on Signal Mountain Road. "We've done a lot of traveling this summer because of the low gas prices," Phelps said. Nathan Phelps, 45, fills his tank with gas Monday at the Midnite Oil/Shiv Food Mart, on Signal Mountain Road. "We've done a lot of traveling this summer because of the low gas prices," Phelps said.

By Dave Flessner August 9, 2016 3 min read

Chattanooga gas prices up 4.5 cents per gallon

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 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 on Monday – the lowest prices in the region, according to GasBuddy.com