FILE – In this May 8, 2015 file photo, gas station attendant Carlos Macar pumps gas in Andover, Mass. The economy is thought to have shrunk in the January-March quarter and may barely grow for the first half of 2015 _ thanks in part to sharp cuts in energy drilling. And despite their savings at the gas pump, consumers have slowed rather than increased their spending. (AP Photo/Elise Amendola, File) Gas prices in Chattanooga rose only half as much as the nationwide increase last week and remained 30 cents a gallon below the U.S. average, according to GasBuddy’s daily survey of gas outlets.
The average price of a gallon of gas in Chattanooga increased 2.6 cents per gallon in the past week, averaging $2.51 per gallon, GasBuddy said in a report released Monday. This compares with the national average that has increased 5.5 cents per gallon in the last week to $2.81 per gallon.
Chattanooga gas prices began this week 83.4 cents per gallon lower than the same day one year ago and are 4.1 cents per gallon higher than a month ago.
“Thanks to a large surprise decline in both crude oil and gasoline inventories last week, gasoline prices unexpectedly regained upward momentum,” Patrick DeHaan, GasBuddy senior petroleum analyst, said in a statement.
But absent any surprises this week, DeHaan expects gas prices to stabilize or drop in the next few weeks.
“I see oil currently overvalued and believe the market will eventually come to its senses,” he said.
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| Chattanooga Gas Prices provided by GasBuddy.com |