Chattanooga Gas Prices pause in the middle of annual May rise
CHATTANOOGA (WDEF) – We’re falling into an “every other week” kind of pattern with gas prices in May.
First a big jump, then a slight dip.
Last week, we got the dip.
Prices fell 2.3 cents per gallon in Chattanooga according to the weekly GasBuddy.com survey, settling at $2.01 a gallon.
Nationally, prices went up 1.7 cents.
This follows another double digit price increase the week before in our area.
Traditionally, prices rise heading toward the Memorial Day Weekend.
But this year, the rise has come in drastic spasms.
And last week, prices were all over the place across the country.
Will Speer, senior petroleum analyst with GasBuddy.com says “While pockets of significant gas price hikes were prevalent, especially in regions such as the Pacific Northwest and Rockies, 22 states actually had prices decrease. So, as states struggled to agree on the movement of gas prices, the national average barely moved as a result, only increasing a penny per gallon in one week’s time. With the Memorial Day holiday two weeks away, it marks the kickoff to the summer driving season. Gasoline demand that has already been strong this year will undoubtedly see a huge seasonal increase in demand. This paired with crude prices that continue to show signs of strength are going to keep further pressure on gas prices this summer.”