Holiday travelers enjoyed the cheapest gas in 11 years over the Labor Day weekend.
The average price of a gallon of regular gas dropped another 5.7 cents per gallon last week in Chattanooga to $1.93 per gallon, according to GasBuddy's daily survey of 170 gas outlets in Chattanooga.
The online gas survey service said today that Chattanooga gas prices have fallen 25.5 cents per gallon in the past month and are now nearly $1.04 per gallon cheaper than they were at this time a year ago.
Chattanooga gas prices also average 46 cents per gallon less than the U.S. average price of $2.39 per gallon, according to GasBuddy.com surveys.
"Not only did Labor Day weekend see millions of Americans take to the road and spend far less than they did last year at the pump, but a growing number of them were able to fill up at under $2 per gallon for the summer's last hurrah," Patrick DeHaan, GasBuddy senior petroleum analyst, said in a statement today. "Better than one in 10 stations in the country now offer gasoline prices at $1.99 a gallon or less, and gas prices in 48 of the nation's 50 states fell in the run-up to the holiday itself, showing that holiday's aren't always a catalyst for price increases."
With the end of the busy summer travel season, DeHaan said prices at the pump are likely to head still lower.
"As we begin to near the terminus for summer gasoline, I expect prices to continue moving lower, with our projections aiming at a sub-$2 a bgallon average (nationwide) by Christmas — or perhaps even earlier, " DeHaan said.