Chattanooga gas prices stable but likely to rise
Gasoline prices in Chattanooga were unchanged last week but may head higher in the coming weeks after OPEC+ nations said they plan to curb oil production to boost prices.
The average price of regular gas in Chattanooga last week remained at $3.14 a gallon, which was 37 cents a gallon below the U.S. average, according to surveys released Monday by GasBuddy. Prices in Chattanooga are 17.2 cents per gallon higher than a month ago and stand nearly $1.26 per gallon lower than a year ago.
OPEC+ agreed Sunday to an additional production cut to try to push up oil prices on the global market.
“As a result, oil prices are likely to see upward pressure as global supplies, which have remained tight, promise to become even tighter as a result,” Patrick De Haan, head of petroleum analysis at GasBuddy, said in a report Monday