Chattanooga gas prices rise last week, but remain lowest in Tennessee

Chattanooga gas prices rise last week, but remain lowest in Tennessee

"Circumstances beyond Canada's control, including a surging U.S dollar versus a weaker Loonie, increasing USA fuel demand and growing exports, will put a premium on what Canadians will pay at the pumps in 2018", said Dan McTeague, senior petroleum analyst at GasBuddy, in the report.

"On average, gas prices are 12 cents more expensive than a year ago". In 2017, the forecast called for a yearly national average of $2.49 and the actual was $2.39. GasBuddy reports demand for gasoline products, fueled by a strong economy and exports, continues to set records. However, the higher prices have not fully made their way to the pump.

AAA Mid-Atlantic reported the price of self-serve regular rose to $2.44, up a couple of pennies from a week earlier and about a dime above a year ago.

DeHaan said it is not unusual for wholesale gas prices to fluctuate by 3 to 10 cents overnight, and retail prices typically reflect the changes. West Texas Intermediate crude settled at a four-year high above $62 a barrel last week as global supply levels tightened.

GasBuddy Predicts Jump in Price
Analyst: Gas prices could soon reach $3 a gallon

Motorists in some states have seen a decline in gas prices, with prices falling 10 cents on the week in IN, 7 cents in OH and 6 cents lower in MI, the motor organization found.

The Dearborn-based auto club says late Sunday the average price for self-serve regular unleaded gasoline was about $2.63 per gallon.

" Springtime is as a springboard for prices at the pump, and we may see a 40-50 cent jump by the summer", said Jenkins. CT lawmakers and Gov. Dannel P. Malloy are taking heat from motorists for considering a plan that raises the state's gasoline tax by three cents when prices at the pumps are creeping toward $5 a gallon.

Demand for gasoline traditionally falls in January and February as motorists log fewer miles in areas most affected by winter weather.

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