Gas prices in area remain stable but should take seasonal slide

Gas prices are on the rise in Rhode Island and MA after Thursday's storm.

The current gas price is 16 cents above where it was a year ago.

But it's still 19 cents higher than at this time past year in the Bay State, when prices were averaging $2.29.

Average retail gasoline prices in Chattanooga rose 0.6 cents per gallon in the first week of 2018, increasing to an average of $2.16 per gallon on Sunday, according to GasBuddy's daily survey of 170 gas outlets in Chattanooga. The highest was about $2.66 per gallon in the Jackson area.

More news: United States winter storm causes travel headaches at NY airport

In Rhode Island, gas is four cents above the national average of $2.49, while gas prices are a penny less than the national average in MA. They are 11.9 cents higher than a year ago.

"As unseasonable cold finally breaks across the country, what may not break as quickly as the unseasonably high gas prices", said Patrick DeHaan, head of petroleum analysis for GasBuddy. Five years ago, a gallon was fetching $3.39. West Texas Intermediate last week settled above $62 a barrel for the first time since December 2013.

" Springtime is as a springboard for prices at the pump, and we may see a 40-50 cent jump by the summer", said Jenkins. He does see a short-lived drop in prices in late January, but expects prices to rise again after Valentine's Day.

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