Gas Prices Rose More in Chattanooga Last Week Than National Average

Chattanooga (WDEF) – reports that local gas prices rose higher in our area than the national average last week.

Their survey found prices climbed by 8.4 cents in Chattanooga for the week.

The national average was five cents.

On Sunday, the Chattanooga average for a gallon of unleaded was $2.49.

But there is some good news.

"The rise we’ve seen in the national average over the month is showing signs of fading," said Patrick DeHaan, GasBuddy senior petroleum analyst.

"Crude oil prices have fallen from their 2015 highs and currently stand some $2/bbl lower at $59/barrel. While higher demand is expected for this Memorial Day weekend, crude oil inventories remain plentiful and stand some 86 million barrels higher than a year ago. That reminder could inspire some selling in crude oil, as could bearish comments recently made by OPEC, or data showing that the 24-week decline in oil rigs is greatly slowing down."

Categories: Local News

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