The damage to local gas prices from Colonial Pipeline explosion was only 2.9 cents

CHATTANOOGA (WDEF) – Chattanooga did see a price bump last week after the Colonial Pipeline explosion, but nothing like the leak more than a month ago.

GasBuddy.com reports prices went up 2.9 cents a gallon in the Chattanooga area last week, averaging $1.97 a gallon.

Knoxville and Atlanta saw larger jumps, while Huntsville and the rest of Tennessee did better than we did.

“If there’s one thing to be excited about for November it’s that gas prices in the last five of them have not risen nationally. Better yet, over the same timeframe, gas prices nationally have averaged a modest twelve cent decline from start to finish. And while there may be more excitement as America heads to the polls this week, it’s important to dispel the myth: presidential elections do not affect gas prices,” said Patrick DeHaan, senior petroleum analyst for GasBuddy.com.

“Whomever is our next Commander-in-Chief, we could see a change to previous energy policy which could have a negligible impact on gasoline prices, but more focus will be on OPEC’s coming decision to follow through on cutting oil output. Skepticism that OPEC won’t agree to a cut in production continues to prevail, with West Texas Intermediate crude oil closing last week at $44.07 per barrel, the lowest since September 20.”

The best prices in Chattanooga right now are $1.85 at the Kangaroo and the Citgo on Middle Valley Road.