Despite recent price hikes, we’ve had the cheapest summer gas prices in a dozen years.

BOSTON, Mass. (WDEF) – Labor Day wraps up the traditional summer travel and gas season.

And GasBuddy.com says this summer gave us the cheapest gas prices in 12 years.

Overall, Americans saved $18.9 billion dollars on gas expenses from last summer.

“As the holiday approaches, it’s true that gasoline prices have risen across the country due in part to rumors of production cuts from OPEC which could begin to correct the balance of supply and demand, but take note- it could be just the third time in a decade prices are rising ahead of Labor Day,” said Patrick DeHaan, senior petroleum analyst for GasBuddy. “While today’s trend may lead to some frustration, gas prices are likely to soon revert, leaving behind what has been the cheapest summer at the pump in over a decade.”

The lowest prices now in our area are $1.84 around Signal Mountain Boulevard in Chattanooga.

So where will the prices go from here?

History tells us they will drop again in the fall. And an election year, historically, doesn’t change that.

We could get the lowest prices of the year leading up to the holidays.