As millions of Americans prepare to head the road for the Thanksgiving holidays, Chattanooga motorists are enjoying the cheapest gas in three and a half months, according to GasBuddy's daily survey of 170 gas outlets in Chattanooga.
Average retail gasoline prices in Chattanooga fell last week by 4.5 cents per gallon, averaging $1.86 per gallon on Sunday. Chattanooga gas prices, on average, were 27 cents per gallon below the U.S. average price of $2.13 per gallon on Sunday.
Including the change in gas prices in Chattanooga during the past week, Chattanooga prices are 2.1 cents per gallon higher than the same day one year ago and are 14.5 cents per gallon lower than a month ago.
Gas prices today are cheapest in the Chattanooga area at a Kangaroo station in Middle Valley, where regular gas is priced at $1.72 per gallon, GasBuddy.com said.
"As motorists pack their bags and prepare to head out for Thanksgiving, gas prices are falling across much of the country," said Patrick DeHaan, senior petroleum analyst for GasBuddy. "With a record amount of travelers, motorists will be facing congestion not only on highways but gas stations. But at least low gas prices have lingered for much of this year. Keep an eye on word from OPEC over the holiday weekend- there could be some surprises at a major meeting to decide the fate of an oil production cut."
"But no matter what eventually takes place with the OPEC meeting, motorists are virtually guaranteed another year of gas prices that will remain well under all-time record highs as oil prices will likely remain confined between $40 and $60 for much of the next year," he added.
AAA is projecting that 48.7 million Americans will travel 50 miles or more from home from Wednesday through Sunday, Nov. 27, which will be the greatest volume since 2007, just prior to the Great Recession.