Gas prices increase but Chattanooga rates lower and more business news

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Gas prices increase but local rates lower

Gasoline prices continued to rise across Tennessee in the past week, according to fuel price surveys released Monday.

Although Chattanooga has the cheapest average price of regular fuel among Tennessee cities, prices at the pump were still up 2.5 cents a gallon, on average, at the 170 Chattanooga stations surveyed by the online gas price reporting service GasBuddy.com. Gas prices in Chattanooga averaged $2.78 a gallon on Monday, or $1.02 per gallon higher than a year ago.

Nationwide, gas prices rose 0.6 cents a gallon to $2.43 a gallon for regular fuel, GasBuddy.com said.

"We're entering our fourth straight week with the national average above the key $3 per gallon level, but while gas prices haven't broken past the low $3s, they have also failed to decline much from their peak as demand for gasoline continues to push higher as the summer driving season is underway," said Patrick De Haan, head of petroleum analysis for GasBuddy.