Gas Prices Give Holiday Drivers a Break This Year

Chattanooga (WDEF) – Holiday travelers found the lowest gas prices on the Fourth in six years.

We also just closed the cheapest six month gas average since 2009.

"Low gas prices were a major driver in the rise in auto travelers this year," said Mark Jenkins, spokesman, AAA – The Auto Club Group. "However, Americans have grown cautious about rising gas prices during recent months and worry they would be again be paying $3 a gallon soon. Fortunately, gas prices peaked last month and have been on a slow and relatively steady downturn during the past 20 days, which is even more incentive for Americans to take a road trip this summer."

Traditionally, gas prices rise in July during the vacation season.

That was the case from 2011-2013.

But last year, the trend reversed.

This July, Triple A is predicting that prices will hold steady.

"Gas prices this month should drop or at least remain relatively flat in the near term as gasoline production increases to take advantage of high profit margins. Oil prices similarly should remain near current levels given that domestic, commercial supplies are about 19 percent higher than a year ago. Nevertheless, factors such as strong summertime demand or other unexpected events could send gas prices higher."

Categories: Local News

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