Another big jump in Chattanooga gas prices last week
CHATTANOOGA (WDEF) – Gas prices in Chattanooga are shooting up again after the Spring Break binge.
According to the GasBuddy.com daily survey, prices in the Chattanooga area rose 8 cents last week to an average of $1.90.
That surpassed the national jump of 6.9 cents to $2.11 a gallon.
We’ve seen both rises and drops in prices over the last month. So far, prices are up 5.5 cents over that time.
“Gasoline prices increased last week in 49 of 50 states, thanks to a sudden jump in the price of crude oil tied to speculation of a change or freeze in oil output at this weekend’s meeting in Doha, Qatar,” said Patrick DeHaan, senior petroleum analyst for GasBuddy. “At the conclusion of the talks over the weekend, no decision was made- not at all a surprise given the recent disagreements between major players Saudi Arabia and Iran. The lack of a clear vision to cut or even freeze crude oil production will likely lead to a sharp sell off in oil markets to start the week as global oil production continues to outpace demand. While typically we’re used to seeing gasoline prices racing higher in the spring, the direct impact of this weekend’s meeting could cause gasoline prices this week to reverse temporarily as oil markets react,” DeHaan said.
The Costco in Ringgold also now has a price of $1.79.