News Summary
Chattanooga’s average gasoline price has surged by 16.6 cents per gallon in the past week, reaching an average of $2.71. This increase is part of a larger trend, with prices also rising by 17.3 cents compared to the previous month. While prices are lower compared to last year, the disparity across gas stations in the city is notable, with costs ranging from $2.46 to $2.89. Nationally, gasoline prices saw a slight increase as well, reflecting broader market trends and potential future impacts due to oil price fluctuations.
Chattanooga Experiences Significant Rise in Gas Prices
Chattanooga’s average gasoline price has risen by 16.6 cents per gallon over the past week, bringing the current average to $2.71 per gallon. This increase is part of a broader trend, as prices have surged by 17.3 cents per gallon compared to a month ago. However, the prices are still 30.3 cents per gallon lower than they were a year ago.
The gas price landscape varies significantly across the city. The cheapest gas station in Chattanooga was found to be selling gasoline at $2.46 per gallon yesterday, while the most expensive station indicated a price of $2.89 per gallon, reflecting a 43.0 cents difference between the highest and lowest prices in the area. In the broader state context, the lowest gas price recorded yesterday was $2.29 per gallon, while the highest reached $3.89, indicating a whopping $1.60 difference within state pricing.
National Trends and Comparisons
On a national scale, gasoline prices have also shown a slight increase. The national average for gasoline rose by 2.0 cents per gallon over the past week, bringing the average cost to $3.11 per gallon. Compared to a month ago, the national average has dipped by 0.5 cents, and it is currently 37.9 cents lower than it was at this time last year. Diesel prices followed a similar trend, with the average increasing by 3.2 cents last week to reach $3.676 per gallon.
Pricing Sources and Market Analysis
The data concerning gasoline prices in Chattanooga is collected by GasBuddy, which conducts a comprehensive survey across 170 gas stations in the area. To ensure accuracy and timeliness, GasBuddy updates its survey 288 times per day using information from nearly 150,000 gas stations nationwide. According to market analysts, an uptick in oil prices poses a potential risk to future gas prices, especially noting that diesel inventory levels are currently tight.
Concerns surrounding economic growth could lead discussions about tariffs that may further impact oil markets. Despite these uncertainties, experts predict that the national average for gasoline is likely to stabilize within the low-$3 range in the near future.
Historical Context
For residents and consumers keen on understanding price trends, historical data on gasoline prices both in Chattanooga and at the national level is accessible, revealing patterns and fluctuations over the past ten years.
As fuel prices continue to fluctuate, consumers in Chattanooga are encouraged to monitor local listings for the most accurate and up-to-date pricing information. The current data reflects a blend of local market dynamics and broader national trends influencing fuel costs across the region.
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Additional Resources
- Chattanooga Pulse: Gas Prices Rise Sharply
- Times Free Press: Chattanooga Utility Renewable Purchase
- Chattanooga Pulse: Gas Prices Continue to Fall
- Chattanoogan: Gas Prices Drop in Chattanooga
- Stacker: Gas Prices in Chattanooga Last Week
- Wikipedia: Gasoline
- Google Search: Gas Prices Trends
- Google Scholar: Gasoline Market Trends
- Encyclopedia Britannica: Gasoline
- Google News: Gas Prices
Author: STAFF HERE CHATTANOOGA WRITER
The CHATTANOOGA STAFF WRITER represents the experienced team at HEREChattanooga.com, your go-to source for actionable local news and information in Chattanooga, Hamilton County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Riverbend Festival, Chattanooga Oktoberfest, and Moon River Festival. Our coverage extends to key organizations like the Chattanooga Area Chamber of Commerce and United Way of Greater Chattanooga, plus leading businesses in manufacturing, insurance, and utilities that power the local economy such as Volkswagen Chattanooga, BlueCross BlueShield of Tennessee, and EPB. As part of the broader HERE network, including HEREBristol.com, HEREKnoxville.com, HEREMemphis.com, and HERENashville.com, we provide comprehensive, credible insights into Tennessee's dynamic landscape.
