Winter Storm could cause an increase in prices at the pump

CHATTANOOGA, Tenn. (WDEF)- Motorists should brace themselves. Not just because of possible slick road conditions, but also for the possibility of increased gas prices.

As of Monday, AAA reported that gas increased at least 5 cents since last week.

That was before the winter storm hit Texas, causing 20% of oil refineries to close.

Now, we could see an even larger increase at the pump.

Patrick De Haan, with GasBuddy, says, “We can thank recovery in the economy and COVID-19 cases declining for the rise in the price of oil and demand. Combine all of this together and it’s going to create a likely 10 to 20 cent increase in gases prices over the next few weeks.”

Some motorists are upset about the increase solely because of the lack of weatherization of products in Texas.

Jackson Burns says, “I find it to be somewhat inconsiderate of citizens in other states, especially in Tennessee that they have made the decisions that they made and that has increased our gas prices.”

According to AAA, Tennessee is ranked the 9th least expensive market in the nation, with Chattanooga being the cheapest metro area in the state.

Courtesy:AAA;2/15/20 Monday Sunday Week Ago Month Ago One Year Ago
Tennessee $2.284 $2.283 $2.234 $2.184 $2.206
Chattanooga $2.222 $2.224 $2.119 $2.152 $2.120
Knoxville $2.278 $2.277 $2.241 $2.203 $2.182
Memphis $2.317 $2.312 $2.256 $2.167 $2.220
Nashville $2.304 $2.301 $2.252 $2.210 $2.259
Click here to view current gasoline price averages

Megan Cooper, with AAA, says, “Even with the recent increases that we’ve seen,you are still having some of the cheapest gas prices that we are seeing across the state of Tennessee.”

If you have a road trip planned in the near future, AAA says it is not time to panic.

For now, if you are planning on traveling or you are planning, and you need to fill up your vehicle, you really shouldn’t go ahead and get additional gasoline. You shouldn’t change your normal fueling habits”, adds Cooper.

Categories: Featured, Local News, Regional News

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