Chattanooga gas prices start their annual March climb

CHATTANOOGA (WDEF) – We’ve said it was coming, but that doesn’t soften the blow.

GasBuddy.com reports that gas prices in the Chattanooga area rose nine cents a gallon last week.

The average is back up to $1.58 a gallon, after flirting with $1.30 prices just a month ago.

The national average shot up 6.8 cents last week.

For the first time in months, we don’t have the cheapest gas in our region.

Knoxville clocks in a $1.57, with Huntsville & the rest of Tennessee just a penny more expensive than ours.

“Taking a cue from the prior week’s price rebound, retail gasoline prices continued its upward push by increasing nearly 9 cents per gallon on average nationwide,” said Will Speer, GasBuddy senior petroleum analyst. “While most of the gasoline market was pricing in the premium associated with the transition to summer-blend gasoline, last week’s strength in crude futures prices provided no relief for the rising gas prices. Although crude oil production fell to the lowest since November 2014, crude and petroleum stocks remain the highest ever recorded in US history.”

But don’t panic. The sky isn’t the limit this summer.

“This oversupply will provide a ceiling for gas prices over the next couple of months as spring refinery maintenance and the summer-blend gasoline transition put upward pressure on prices,” he said.

The lowest price today in the GasBuddy survey for our area is $1.44 at the Citgo in Athens, TN.

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The Costco at the Cloud Springs Road exit in Georgia sits at $1.48.

The cheapest in Chattanooga is $1.49 (BP I-75 & E.Brainerd, Walmart on Shallowford, Midnite Oil/BP/Hi-Tech at Signal Mtn/Mountain Creek).

You’ll also find several $1.49 prices in Cleveland and Athens.