Chattanooga gas prices rise 2.2 cents per gallon in past week

Local prices at pump still 22 cents below U.S. average

April 25, 2016 at 9:32 a.m. | Updated April 25, 2016 at 11:57 p.m.

by Dave Flessner

FILE - In this July 16, 2015, photo, a customer refuels her car at a Costco in Pittsburgh. U.S. consumer prices rose modestly in October, 2015 as low gasoline costs and a strong dollar have suppressed inflation. The Labor Department says the consumer price index rose 0.2 percent last month after falling in September and August. Gas costs increased 0.4 percent in October but have plunged 27.8 percent over the past 12 months. (AP Photo/Gene J. Puskar)
FILE - In this July 16, 2015, photo, a customer refuels her car at a Costco in Pittsburgh. U.S. consumer prices rose modestly in October, 2015 as low gasoline costs and a strong dollar have suppressed inflation. The Labor Department says the consumer price index rose 0.2 percent last month after falling in September and August. Gas costs increased 0.4 percent in October but have plunged 27.8 percent over the past 12 months. (AP Photo/Gene J. Puskar)

Lowest Gas Prices in Chattanooga, TN

$1.82: RaceWay (3459 Amnicola Hwy & Judd Rd)>$ 1.82: RaceWay (7019 TN-153 & US-27)$ 1.82: CITGO (5701 TN-153 & Carmack Rd)$1.82: Kangaroo (6917 Middle Valley Rd & Boy Scout Rd)$1.83: BP (3407 Amnicola Hwy & Riverport Dr)

Lowest Gas Prices in Chattanooga
Chattanooga Gas Prices provided by GasBuddy.com

Gasoline prices in Chattanooga rose another 2.2 cents per gallon in the past week, boosting the average price at the pump to $1.92 per gallon for regular gas, according to GasBuddy's daily survey of 170 gas outlets in Chattanooga.

Rising oil prices and consumer demand combined to push up gas prices in the past week, although Chattanooga gas prices, on average, still remain 22 cents per gallon below the U.S. average of $2.14 per gallon.

The gasoline price website GasBuddy.com said Chattanooga prices have jumped 48 cents per gallon from their February low of 1.44 per gallon. The average gas price Sunday in Chattanooga was still 1.2 cents per gallon lower than a month ago and 40.8 cents per gallon lower than the same day one year ago.

"The oil markets this past week shrugged off OPEC's inability to reach an agreement for production freezes at the highly-touted meeting in Doha, Qatar," said Will Speer, a Houston-based senior petroleum analyst for GasBuddy. "West Texas Intermediate crude futures responded to a brighter demand picture that perked prices up to $43.73 per barrel for Friday's close."

Cheaper gas has pushed up demand for gas. The Energy Information Administration shows year-to-date demand to be up 3.4 percent from last year and up 7.4 percent from 2014.

"Unsurprisingly, this has impacted retail gasoline prices, causing 43 of the 50 states to raise prices from a week ago," Speer said. "Low prices have ignited the early demand surge this year, and the surge is expected to continue into the summer, where demand hits its peak for the year."

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