Tennessee Valley gas prices among the cheapest in the state
You've probably had a double-take on some gas prices around the Tennessee Valley, and it's not just in this area, prices in the entire state now average the lowest of 2018. Tennessee's average is $2.19/g and is 15 cents less than a week ago.
If you need to fill up on gas, now might be the best time to do so. Prices have declined the past seven weeks, but that could soon change.
The Organization of Petroleum Exporting Countries (OPEC) meeting could cause crude oil prices to jump if the organization decides to reduce crude production.
On average, gas prices in November were 21 cents less per gallon than in October.
The monthly average of $2.44 per gallon was the lowest monthly average since March ($2.35). The state average declined a total of 31 cents last month.
Despite the decline, the monthly average was 14 cents more than November 2017, and the most expensive November in four years.
December has been much different and it's no wonder why long lines are forming at some gas stations.
"People are stopping more; they are buying extra items because they have extra money in their pocket," said Emma Newman, Manager, Raceway Signal Mountain Road.
Business at the raceway at the Raceway Signal Mountain Road is picking up. The low prices are drawing drivers in like Benjamin Goocher.
"It's been great for me because I take climbing trips quite often throughout the southeast and when gas prices are low it's easier on my pocketbook," Goocher said.
AAA Tennessee said for the first time in 18 months, gas prices are cheaper than they were a year ago. A look back 10-years-ago in Chattanooga, gas prices were nearly $4.00/g ($3.97/g) in 2008. Drivers remember those days and how peaks in prices changed their habits.
"Sometimes I have to put less in my tank, sometimes I have to cut trips short and not go as many places," Goocher recalled.
So why is gas so cheap? Experts say crude prices went from a four-year high to an almost, all time low and what some are calling 'The Oil Crash.'
Before you get too excited, some store owners like Steve Ray with Midnite Oil in Ooltewah said drivers should enjoy it while it lasts.
"They will go back up, there will be a crisis in the Middle East, if there's not one for real, they'll create one to get gas prices up, but for now, enjoy it, it's like a tax break," Ray said.
This map on AAA shows where the most expensive and cheapest places are to fill up.
Southeast Tennessee typically sees the lowest because of the abundance of gasoline suppliers and the local competition.
Most expensive gas price averages: Nashville ($2.35), Johnson City ($2.33), and Morristown ($2.28)
Least expensive gas price averages: Cleveland ($2.04), Chattanooga ($2.09), and Knoxville ($2.19)
"I'm not loyal to any brand, I'm definitely going to go with the lowest price for sure," Goocher said.
You can always find the cheapest gas prices wherever you are, visit the Channel 3 Fuel Finder under the Traffic tab on WRCBtv.com.