Local gas prices shoot up over the last week

Spring rise of prices continues in our area

The annual spring gas price hikes have come early this year.

The weekly Gas Buddy survey found that prices went up 17 cents in the Chattanooga area last week.

The average price now in our area is $2.95.

Prices are now 30-cents higher than they were a month ago.

Gas Buddy analyst Patrick De Haan says we generally see another eight weeks of price increases.

“With Valentine’s Day now behind us, we have officially entered the time of year when gas prices traditionally start their spring fling, but we’ve already seen the streak of consecutive increases in the national average hit four weeks. While the early start could also mean an early end, we still have as many as 8 weeks that gas prices typically increase, and anything can happen between now and then. One of the most critical elements to how much gas prices will climb is how quickly and effectively refiners can finish their pre-summer maintenance, start producing EPA-mandated summer gasoline and build up supply of it before Memorial Day.”