Local gas prices rise after 13 weeks of decline
After three months of steadily declining prices at the pump, the average price of gasoline rose last week in Chattanooga despite a continuing decline in prices in most parts of the country.
Average gasoline prices in Chattanooga rose 9.6 cents per gallon in the past week, averaging $3.14 per gallon Monday, according to GasBuddy's survey of 170 stations in Chattanooga. Prices in Chattanooga are 13.9 cents per gallon lower than a month ago but still 35.3 cents per gallon higher than a year ago.
The national average price of gasoline fell 3.9 cents per gallon in the past week, averaging $3.64 per gallon.
Chattanooga still boasted the lowest gas prices in the state with the cheapest fuel in Tennessee being sold Monday at Sam's Club on Lee Highway at $2.78 a gallon for regular gas.
"With a 14th consecutive weekly decline, the national average price of gasoline has now surpassed 2018's record decline, seeing its longest downward streak since 2015," said Patrick De Haan, head of petroleum analysis at GasBuddy. "While some states continue to see gas prices trend higher, the majority have continued to decline. However, this week could change the downward trend."
Nissan recalls pickups with roll away defect
Nissan has voluntarily recalled more than 203,000 of its pickup truck models because of a defect that can cause the vehicles to roll away while in park, the National Highway Traffic Safety Administration said.
More than 203,000 Nissan Titan and Frontier vehicles with nine-speed transmissions are involved, according to a report this month from the administration.
The affected vehicles were produced between Dec. 13, 2019, and Aug. 25, 2022. The vehicles are in markets in the United States, Canada and Mexico, said Stephen O'Neil, a Nissan spokesperson.
"Nissan will send owners of affected Titan and Frontier vehicles a letter with an invitation to repair when a final remedy plan is available," he said.
The issue is believed to be caused by insufficient lifting force of the parking pawl, a device that locks the transmission. Friction between the parking rod and parking wedge contributed to the defect.
The company said it was not aware of any accidents or injuries related to the recall, O'Neil said. Drivers of these trucks are advised to use the parking brake.
"If the parking pawl does not engage, an affected vehicle may move after placing the shifter into 'Park,'" the National Highway Traffic Safety Administration report said. "If the customer does not engage the parking brake, potential for movement of the vehicle increases the risk of injury or crash."
Penny's new beauty line replaces Sephora shops
JCPenney Beauty, the retailer's own beauty department created to replace departing Sephora in-store shops, is ready to be rolled out to hundreds of stores.
Starting in October, JCPenney said it will add its JCPenney Beauty to 300 stores by early 2023 and then 300 more by spring 2023. Last October, Penney's debuted its beauty concept that it created with Thirteen Lune, an inclusive e-commerce site selling new BIPOC-founded brands. (BIPOC is an acronym that stands for Black, Indigenous and people of color.)
Sephora didn't renew its 15-year contract with JCPenney and moved its in-store shops to Kohl's, which has said it plans to put Sephora in all 1,100 of its stores. About 600 are open now. Target has been adding Ulta Beauty in-store shops to its stores..
Penney's new shops sell 250 brands with more than 60 created by BIPOC, and or female founders. Dozens more such brands will be added in the coming months such as Shades by Shan, JCPenney said.
"Inclusivity is core to JCPenney. We exist to celebrate and serve diverse, working families across America which is why we are leading the charge to foster beauty inclusivity on a national scale," said Michelle Wlazlo, chief merchandising officer, JCPenney.
JBS to pay $20 million over price-fixing claim
JBS has agreed to pay $20 million to settle a lawsuit with consumers that accused the giant meat producer of conspiring with other meat companies to inflate the price of pork, which will only reinforce some of the ongoing concerns about how the lack of competition in the industry affects prices.
A federal judge in Minnesota approved the latest settlement in these price-fixing lawsuits last week. But the judge also ruled that nearly $7 million of the settlement will go to the plaintiffs' lawyers for their work in the case. It's not clear yet how much individual consumers who bought pork between 2009 and last year might receive out of the remaining $13 million.
This pork lawsuit is one of several price-fixing lawsuits making their way through the courts. Meat producers have also been accused of inflating beef and chicken prices, and several multimillion-dollar settlements have been announced in those cases. The meat companies have defended their pricing practices even though there have been a number of settlements in these cases.
Previously, JBS agreed to pay restaurants and caterers $12.75 million as part of a different settlement in this pork lawsuit, and Smithfield Foods agreed to pay two different groups of pork purchasers $83 million and $42 million in two different settlements in the case.
Officials at the Brazilian company's U.S. headquarters in Greeley, Colorado, didn't immediately respond to questions about the latest settlement on Monday, but JBS didn't admit any wrongdoing as part of the deal. The lead attorneys for the plaintiffs also didn't immediately respond to questions.