Chattanooga gas prices rise last week but are at 11-year summer low

Gas prices rose an average 8.4 cents per gallon in the past week in Chattanooga, but retail prices at the pump remained the lowest of any Memorial Day week since 2005, according to GasBuddy's daily survey of 170 gas outlets in Chattanooga.

Average retail gasoline prices in Chattanooga were $2.09 per gallon on Sunday, or 19 cents per gallon below the U.S. average of $2.28 per gallon.

Gas prices in Chattanooga have jumped an average 65 cents a gallon since the lows reached in February. But local gas prices remain 39.2 cents per gallon lower than the same day one year ago and are $1.36 gallon less than two years ago at this time.

"With crude oil prices rallying over the past six weeks, reaching the highest point that we've seen since November ($48.50 per barrel) before Friday's close, we should expect wholesale and retail gasoline prices to rise further," Gregg Laskoski, senior petroleum analyst for GasBuddy, said Monday. "The good news for consumers is that even with the recent increases in the price at the pump, on average we're still paying less per gallon this year versus last."