Gas prices climb again, but the end could be in sight

CHATTANOOGA (WDEF) – While gas prices held nationally last week, they still went up in our area.

Chattanooga prices rose another 1.5 cents a gallon last week in the latest survey.

Our average price is now $2.07.

But gas here is still cheaper than in Knoxville ($2.11), Nashville ($2.10), and Huntsville ($2.10).

Prices in our area are now 15 cents higher than they were a month ago.

But there is some good news.

“For the fourth straight week gasoline prices have risen, pushing the national average this week to its highest level of the summer so far,” said Patrick DeHaan, senior petroleum analyst for GasBuddy.

“There are some signs, however, that we may be nearing a short-term peak as the climb in gasoline prices has begun to slow. The number of states seeing gas prices decline versus a week ago rose to its highest level in three weeks, a sign that gas prices have in these areas have caught up to the rise in oil prices. While that sign alone doesn’t guarantee lower prices, it suggests that fewer price increases are in store as stations await oil’s next move. Last week saw oil prices fluctuate little until Friday, when prices fell and closed the week under $49 per barrel, with many ‘wait and see’ factors weighing on the market, such as the Venezuela situation, hurricane season and declining U.S. oil inventories.”

The cheapest gas in Chattanooga right now is in Lookout Valley

$1.94 Murphy USA Cummings Highway
$1.94 Exxon Cummings Highway
$1.95 Mapco Brown’s Ferry Road
$1.95 BP Brown’s Ferry Road

You can also find $1.97 prices in Soddy Daisy and Ooltewah.

Categories: Consumer News, Local News

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