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Pre-holiday cheer: National gas prices near 3-year low

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James LaMance waits as his truck fills with gas Monday at Sam's Club. Photo by Angela Lewis/Times Free Press James LaMance waits as his truck fills with gas Monday at Sam's Club. Photo by Angela Lewis/Times Free Press
CHATTANOOGA, TN (Times Free Press) -

Chattanooga gas prices dropped another penny a gallon on Monday, continuing a 7-week drop in prices at the pump that should soon push fuel prices to their lowest level in three years.

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According to AAA fuel gauge surveys of service stations nationwide, gas prices in Chattanooga are 14 cents a gallon below what they were a year ago and 17 cents a gallon below the U.S. average. With cooler weather and less leisure driving, AAA experts expect gasoline demand and prices should continue to fall over the next few weeks.

"Right now, all indications are that prices should continue to drop given that supplies remain very abundant, demand is declining and the price of oil has fallen," said Michael Green, a manager at AAA who helps track gas price trends.

U.S. oil production grew in October to the highest level since March 1989 and the price of oil has dropped by about $10 a barrel since late August. The cost of gas historically falls toward the end of the year because the peak driving season has ended and there is a seasonal shift to a cheaper winter blend of gas.

Read more from our news partners at the Chattanooga Times Free Press.


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