Gas prices still climbing in our area
CHATTANOOGA (WDEF) – Gas prices continued to climb last week around Chattanooga, but a bit slower this time.
Our prices rose about 2.2 cents per gallon according to the GasBuddy.com survey.
That compares to a 2.4 cent rise nationally.
So the average price around Chattanooga is now $1.92.
That puts us even with Huntsville and slightly lower than Knoxville and the rest of the state.
“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. West Texas Intermediate crude futures responded to a brighter demand picture that perked prices up to $43.73 per barrel for Friday’s close. Leading the demand surge has been gasoline, where the Energy Information Administration (EIA) shows year-to-date demand to be up 3.4% from last year and up 7.4% from 2014 according to their ‘product supplied’ demand indicator,” said Will Speer, a Houston-based senior petroleum analyst for GasBuddy.
“Unsurprisingly, this has impacted retail gasoline prices, causing 43 of the 50 states to raise prices from a week ago. 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,” Speer added.
The cheapest gas in the Cleveland area is $1.85. along with the Costco in Catoosa County.