Gas Prices Drop Heading Into Holiday

AAA’s weekly gas survey says prices dropped by 3 cents last week in Tennessee and five cents in Georgia.

GasBuddy’s survey of Chattanooga prices found the average here dropped 2.9 cents last week to $2.47 a gallon.

The national average dropped by a penny.

"Lower gas prices are added incentive for travelers to pack-up the family vehicle and hit the road this Independence Day," said Mark Jenkins, spokesman, AAA – The Auto Club Group. "Motorists have been nervous about rising pump prices during the past five months, but will be delighted to see that prices are on the way back down. Gas prices are likely to continue falling through the holiday weekend, and travelers will find the cheapest gas prices in at least five years."

"Gasoline production increases this time of year in anticipation of the busy summer driving season, so the increase in demand should not drive up prices during the holiday weekend," Jenkins said. "Pump prices have likely hit their peak for the year and should continue falling through most of the summer."