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Local gas prices dipping below $3 a gallon in some places

5:03 PM, Dec 14, 2012   |    comments
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Friday's national average gas price is nearly the lowest of the year.

Right now, it's at $3.29 a gallon.  Here in Knoxville, gas is close to $3.00, even less that that in some places.

AAA of East Tennessee says there are a few factors driving the drop, including lower demand for gas, negative economic news out of Europe, and the dollar is a little stronger, which means oil is cheaper.

Experts expect prices to continue to fall through the end of the year.

This comes as holiday travel is on the rise.

Through the end of the year, just over 2 million Tennesseans are expected to travel, that's up about 2% from last year.

Most of those travelers will be hitting the roads, and those low gas prices will be a welcome sight for drivers, but an uptick in travel goes beyond low prices.

"That is in large part due to the economy. That's more the economy than the gas prices. Gas prices allow people to spend more on other things when they travel than if the gas prices were higher," says Don Lindsay of AAA of East Tennessee.

As far as air travel, around 60-thousand Tennesseans are expected to fly.  Nationally, that number is just over 5.5 million.

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