Gas price climb continues in Chattanooga as we head back to school

CHATTANOOGA (WDEF) – Gas prices rose again last week in the Chattanooga area.

This time the costs was another 2.4 cents a gallon, according to the weekly GasBuddy.com survey.

The average price here is now $2.01.

The national average went up even more at 3.5 cents a gallon.

“The upward climb at pumps across the country has largely continued as crude oil prices rallied and stand within striking distance of $50 per barrel,” said Patrick DeHaan, senior petroleum analyst for GasBuddy.com.

“The rise in oil has come due to unrest and concern over the political outlook in Venezuela, a major supplier of crude oil to the U.S., due as well to Saudi Arabia’s export cut to six million barrels per day. Add on top of it U.S. oil inventories that have declined over 50 million barrels from March and you have a recipe for a continued rally in gasoline prices in much of the country.”

“Watch for some volatility in oil and gasoline prices in the weeks ahead, especially with what’s going on in Venezuela. August will likely feature the summer’s highest gasoline prices.”

The cheapest gas in Chattanooga right now is $1.89 at the Citgo on Middle Valley Road and the Sam’s Club on Lee Highway.

Soddy Daisy has $1.87 gas at the Marthon and the Murphy USA.

Categories: Consumer News, Local News

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