Gas prices in Chattanooga jump almost 14 cents per gallon last week

After three consecutive weeks of falling gas prices, Rockford’s rate increased this week by 3 cents.

This compares with national average which increased 2.7 cents per gallon last week to $2.22 a gallon.

GasBuddy Senior Petroleum Analyst Patrick DeHaan said prices rose in 33 states last week as they caught up to rising crude oil prices.

While the glut of oil supply remains near record levels, refiners can’t process it all, leading to gap between oil prices and gasoline prices and more profits for refining companies.

The price of a gallon of regular gas in Rhode Island has ticked up to an average of $2.17. In Metropolis, prices are ranging from $2.19 to $2.20. Pump prices have declined by seven cents month-over-month and motorists are benefitting from significant yearly savings, with today’s price 74 cents per gallon less than a year ago.

As the national average has risen, so too has the percentage of stations that have raised prices.

You can still get a gallon of regular in one station in Dover for $1.99. That’s four cents less than a week ago and about 70 cents less than a year ago.

The bearish sentiment in the energy sector has persisted over short term bullish runs, as oil inventories remain 100 million barrels higher than year ago levels, and continue to run near historical highs.

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