Gas prices dropping ahead of the Thanksgiving holiday

Gas prices dropping ahead of the Thanksgiving holiday

Posted:

By HAYLEY HARMON
6 News Anchor/Reporter

KNOXVILLE (WATE) - There are less than two weeks until Thanksgiving, when millions of Americans will be hitting the roads on the way to visit family.

It is one of the busiest travel holidays of the year.

There may be good news for drivers, as gas prices look to be cooperating right now, and have fallen for the last several weeks.

Sunday's average in Knoxville is $3.12 for a gallon of regular gas, according to AAA's Fuel Gauge Report. That is down from $3.55 just one month ago.

Locals said they are enjoying the savings, but would like to see those numbers drop even more.

One of the cheapest prices 6 News found Sunday was at an Exxon in North Knoxville, charging just $3.05 a gallon for regular. The national average is $3.43 per gallon.

"I fill up my tank at least once or twice a week," Joyce Neal of Knoxville said. "I always fill up here because the prices are lower."

People are happy to keep more cash in their wallet, rather than pouring it into their gas tank.

"It does make a lot of difference. Gives you more money to buy your food with," Neal said.

Gas prices have been high for most of this year, which adds up for local families.

"It's a lot of money," Kerry Trinchera of Knoxville said. "It's probably about $100 a week."

This recent drop is welcomed, especially by folks like Bill Lunsford.

"I've got a lot of cars to buy gas for because I'm a car dealer, so I just put a little bit in at a time, but we use quite a bit in a years time," Lunsford said. "When it's high, we buy less, and when it's cheaper, we tend to fill up more."

AAA of Tennessee said the drop in prices is a direct result of the most basic of economic factors.

"It is a drop in demand," Don Lindsey from AAA of Tennessee said. "We've been seeing very low demand all this year compared to previous years, but it really starts to go down in the fall."

Drivers hopes prices continue to fall, but recall a time when prices were much lower.

"I still think it's sad that we think that's low," Trinchera said. "I remember when gas was $1.89."

Lindsey said drivers may see more price drops in the future.

"It's possible that we could see prices below three dollars, the way the momentum has been going here," Lindsey said. "If the wholesale prices stay down there, we might see prices below three dollars."

According to AAA of Tennessee, prices traditionally fall in November almost every year. They predict the lowest prices will be in January.

Powered by WorldNow

1306 N. Broadway NE Knoxville,
Tennessee 37917

Telephone: 865.637.NEWS(6397)
Fax: 865.525.4091
Email: newsroom@wate.com

Can’t find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Young Broadcasting of Knoxville, Inc. A Media General Company.