Average gas prices in Chattanooga jumped another 10.3 cents per gallon last week to the highest level in four months, according to GasBuddy’s daily survey of 170 gas outlets in Chattanooga.
The average price of gas in Chattanooga at the start of this week was $2.36 per gallon, up nearly 20 cents a gallon since Christmas. Despite a slight dip in oil prices Monday, experts expect the rise in petroleum prices during January will keep gas prices at elevated levels through winter.
The rise in local gas prices in the past week was triple the average increase nationwide, but Chattanooga gas prices still averaged 21 cents per gallon below the U.S. average.
Chattanooga gas prices are 35.3 cents per gallon higher than the same day one year ago and 83 cents a gallon above the price of gas two years ago.
“With oil maintaining strength, gasoline prices have continued to climb in many places, rising to their highest level since Hurricane Harvey dealt a blow to Texas and a significant portion of U.S. refining capacity,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “I see diminishing chances of the traditional winter relief that accompanies the year’s coldest months. Without gas prices falling, the current price environment may be the floor for what could become a more expensive year than anticipated.”